MFG; BHP ASX: Magellan Financial Group a ‘classic’ dividend trap, says Plato Investment Management’s Peter Gardner

Peter Gardner is portfolio manager of Plato Investment Management’s Australian Shares Income Fund. The Sydney-based firm oversees about $11.5 billion.For investors seeking dividend income, it’s not simply the highest yielding companies that constitute the best investment ideas. The best dividend stocks have sustainable yields and solid underlying businesses.to watch in the year ahead.

. It has a 4.3 per cent cash yield, fully franked which is above the market, and it benefits from interest rate rises.Magellan Financial Group has been a classic dividend trapIt has traded on a gross trailing yield of over 10 per cent for quite some time as the company’s share price has been collapsing.

We held BHP Group which cut dividends 52 per cent, but this was largely because iron ore prices dropped from where they were in early 2022. It also followed a period of exceptionally high payouts which was very rewarding for shareholders. The

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