Guess which ASX 200 share is projected to pay the biggest dividend yield in FY24?

A huge dividend yield is expected from this ASX 200 share…

| More on:
Happy man holding Australian dollar notes, representing dividends.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Analysts across Australia regularly release research notes that provide estimates for the future sales, earnings, and dividends of ASX 200 shares.

While analysts rarely agree with each other, by combining their estimates we have a consensus that can be used by investors to get an idea of what the market is expecting from a particular company.

If we then bring all these consensus estimates together, we can compare and rank them to find out things such as which companies are predicted to grow their earnings the most or provide the biggest dividend yield.

On this occasion, let's focus on the latter and take a look at which ASX 200 share is forecast to offer the biggest yield in FY 2024.

Which ASX 200 share will offer the biggest dividend yield in 2024?

According to consensus estimates, New Hope Corporation Limited (ASX: NHC) shares are expected to provide the biggest dividend yield in FY 2024.

Current consensus estimates point to the coal miner paying its shareholders a fully franked $1.32 per share dividend that year.  While this will be down from an estimated $1.73 per share in FY 2023, it still equates to a whopping yield of 19.5%.

As mentioned above, the consensus estimate brings together lots of different estimates. This means that some analysts expect lower dividends being paid and others expect higher dividends to be paid by New Hope.

For example, the team at Morgans expects an 80 cents per share dividend in FY 2024, whereas Citi expects an even larger dividend of $1.93 per share. These estimates equate to fully franked dividend yields of 11.8% and 28.6%, respectively, for that financial year.

Time will tell which analysts have made the right call. But, either way, a hefty dividend yield looks likely in FY 2024 from this ASX 200 share.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

Hand holding Australian dollar (AUD) bills, symbolising ex dividend day. Passive income.
Opinions

2 ASX dividend shares I'd buy after the stock market sell-off

Both of these income stocks offer appealing dividend yields.

Read more »

Man holding out Australian dollar notes, symbolising dividends.
Dividend Investing

2 outstanding ASX dividend stocks down 30% I'd buy right now

Analysts think these income stocks are cheap buys after falling heavily.

Read more »

Person holding Australian dollar notes, symbolising dividends.
Dividend Investing

How I would build a $1,000 monthly passive income stream with ASX shares

It isn't as hard as you might think to build a sizeable passive income.

Read more »

Middle age caucasian man smiling confident drinking coffee at home.
Dividend Investing

3 undervalued ASX dividend stocks paying a remarkable 6%+

Analysts are expecting big payouts from these shares.

Read more »

An ASX investor in a business shirt and tie looks at his computer screen and scratches his head with one hand wondering if he should buy ASX shares yet
Dividend Investing

Where are my dividends? A small error costing shareholders big dollars

There’s millions of dollars in unclaimed funds floating around. Does some of it belong to you?

Read more »

A man holding a cup of coffee puts his thumb up and smiles while at laptop.
Dividend Investing

1 marvellous ASX dividend stock down 33% to buy and hold immediately

Analysts think this stock could be a great pick for income investors.

Read more »

A woman sits at her computer with her chin resting on her hand as she contemplates her next potential investment.
Dividend Investing

Dividend reinvestment plans deliver big discounts on Wisetech, Bendigo Bank, and Woolworths shares

Wisetech, Bendigo Bank, and Woolworths have announced their dividend reinvestment plan share prices.

Read more »

Happy man holding Australian dollar notes, representing dividends.
Dividend Investing

How to earn $50,000 of passive income from ASX shares

The share market can be used by investors to generate significant income. Here's how.

Read more »