Top-quality ASX shares with strong dividend yields can be hard to come by in 2020. Many reliable dividend payers like the big banks have slashed dividends to conserve capital.
However, the recent bear market has hit many S&P/ASX 200 Index (ASX: XJO) constituents hard. That means that dividend yields have surged higher and many ASX dividend shares could be in the buy zone.
3 top ASX dividend shares
Fortescue Metals Group Limited (ASX: FMG) is one of those ASX dividend shares right now.
The Fortescue share price has rocketed 72.6% higher since 9 March, but is still yielding a tidy 6.75% at the time of writing. With iron ore prices on the rise, Fortescue could be a bargain given its capital growth and income prospects.
Fortescue isn't the only top ASX dividend share trading for a good price today. The Harvey Norman Holdings Limited (ASX: HVN) share price is trading at $3.54 per share with a 5.93% dividend yield.
Harvey Norman recently announced a 6 cents per share special dividend for shareholders. This came after a strong sales period during the coronavirus shutdown, as Aussies spent big on their home improvements and office setups.
Sticking with the retail theme, Scentre Group (ASX: SCG) is another ASX dividend share that's worth watching, with a current dividend yield of 8.39%.
Scentre shares have been on a rollercoaster ride in 2020 as investors try to work out the impact on real estate investment trusts (REITs) from the pandemic restrictions.
Scentre owns and operates Westfield shopping centres across Australia and New Zealand. That means what is good for the retail sector is good for Scentre.
With restrictions starting to ease, we could see retail stores reopen for business and earnings bounce back. That means more stable tenants for Scentre, which could make it a strong dividend share in 2021 and beyond.
Foolish takeaway
These are just a few examples of top ASX dividend shares as we start this new week. Of course, dividend yields can be misleading right now, but I think the long-term picture is still good for many of these companies.
