Investors ready to hold their nose over environmental concerns can pocket strong dividends from coal stocks in 2024, as the miners shunned by the mainstream investment community boost production and buy assets from their rivals.

Whitehaven Coal said this year’s $US3.2 billion ($4.8 billion) acquisition of BHP’s Daunia and Blackwater metallurgical coal mines would be 70 per cent earnings per share accretive in financial 2024 and increase its total coal resources 75 per cent to 4.6 billion tonnes, although it will be forced to cut short-term dividends to finance the deal.