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…

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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.

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