Top ASX Dividend Stocks to Buy in November

Top ASX Dividend Stocks to Buy in November

Two best quality dividend stocks to buy in November with good upside potential are

Westpac Banking Corporation (ASX: WBC)

Westpac Banking Corporation, one of the dividend paying companies, delivered a solid performance in FY24, characterized by stable net interest income growth of 3%, reaching $18,916 million, which was primarily driven by a 3% increase in average interest-earning assets. Loan book expansion remained strong, with business loans up by 7% and housing loans by 3%. Net interest margin (NIM) held steady with a marginal 1-basis-point decline to 1.95% (excluding notable items). Non-interest income, however, saw a 15% drop to $2,835 million, and operating expenses, excluding notable items, rose by 7% to $10,944 million, impacting overall operational efficiency. Total loans advanced by 4% to $807 billion, led by 5% growth in Australian housing loans (excluding RAMS) and an 8% rise in business lending, which underscored Westpac’s robust lending portfolio. Deposits rose by 5% to $674 billion, reinforcing a stable funding position. Within the Consumer segment, net profit contracted by 17% amid intense competition in the mortgage space, though net loans and deposits still grew by 4% and 8%, respectively.?

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