The S&P/ASX 200 Index (ASX: XJO) bear market that we now find ourselves in has been a scary event to have watched unfold. Seeing the value of one's shares fall significantly is never a joyous occasion.
However, all clouds have a silver lining and this one is no different. ASX dividend shares have been beaten down across the board – which in turn pushes up the trailing dividend yields on offer. This could prove bountiful for income investors out there.
So, here are three ASX dividend shares that I think are offering irresistibly high yields today
Sydney Airport Holdings Pty Ltd (ASX: SYD)
Sydney Airport was long considered a 'safe haven' ASX dividend share for the reliability of its dividend payments. The coronavirus situation has tipped that reputation on its head. Sydney Airport was offering a dividend yield of around 4% a few months ago when it was trading for over $9 a share. Today, Sydney Airport shares will set you back just $6.32 each (at the time of writing).
Attached to those shares is a trailing dividend yield of 6.17% – which is looking a lot more attractive from a dividend investor's perspective. This yield might be impacted this year from the coronavirus situation, but I think Sydney Airport is still a great option to consider if you can look beyond 2020.
WAM Capital Limited (ASX: WAM)
WAM Capital is Wilson Asset Management's flagship Listed Investment Company (LIC) and is renown for its hefty fully franked dividend payments. It invests primarily in mid-cap ASX shares like Breville Group Ltd (ASX: BRG) and CSR Limited (ASX: CSR).
The stock market slide over the past month has pulled WAM shares down around 15%, which in turn has pushed the trailing WAM Capital dividend yield to 7.67% (10.96% grossed-up). Now that's a yield that I think dividend investors would have a hard time ignoring.
BHP Group Ltd (ASX: BHP)
The 'Big Australian', BHP shares have also lost a lot of steam over the past month, falling from nearly $40 a share to today's price of $27.38 (a 30% turnaround). Still, the price of BHP's main commodity iron ore has stayed fairly steady during this time and is currently still around US$90 per tonne. Thus, I think this sell-off might be something of an overreaction.
BHP shares have a trailing dividend yield of 7.8% (or 11.14% grossed-up), which I think makes the current share price well worth having a look at!
