Which ASX 200 large-cap shares offer the best dividend yields?

We reveal the 10 highest ASX dividend payers among the ASX 200 large-cap stocks.

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

Key points
  • The 10 highest dividend payers among the ASX 200 large-cap shares pay dividend yields of between 5% and 10% 
  • Woodside shares currently pay the biggest trailing dividend yield at 10.64% 
  • The top 10 comprises a mix of ASX bank shares, mining shares, energy shares, and property shares

Dividends are expected to provide a greater portion of ASX investors' returns than capital growth while interest rates and inflation remain high, according to international and local experts.

The most reliable dividend payers of the ASX 200 are typically large-cap shares because they represent the biggest blue-chip companies.

The large caps have a minimum market capitalisation of $10 billion.

So, let's take a look at which ASX 200 large-cap shares are paying the best dividend yields right now.

A tattooed man stands in front of a chalkboard with lots of cash notes drawn on it, as if it's raining money.

Image source: Getty Images

Woodside the best ASX dividend payer

According to data provided by TradingView, the ASX 200 large-cap shares offering the 10 best trailing dividend yields are a mix of ASX bank shares, mining shares, energy shares, and property shares.

They are:

ASX 200 LARGE CAP SHAREASX DIVIDEND YIELDPAID PER SHARE
Woodside Energy Group Ltd (ASX: WDS) 10.64%$3.75
Fortescue Metals Group Ltd (ASX: FMG) 9.83%$1.96
BHP Group Ltd (ASX: BHP) 8.99%$3.92
South32 Ltd (ASX: S32) 7.13%33 cents
ANZ Group Holdings Ltd (ASX: ANZ) 6.59%$1.55
Westpac Banking Corp (ASX: WBC) 6.34%$1.34
Stockland Corporation Ltd (ASX: SGP)6.16%27 cents
National Australia Bank Ltd (ASX: NAB) 6.07%$1.61
Scentre Group (ASX: SCG) 5.76%16 cents
APA Group (ASX: APA) 5.36%54 cents
Based on share prices at the time of writing

Things to consider

If you're using this data to research which ASX dividend shares to buy, there are a couple of things to consider.

It's important to remember that trailing dividend yields are calculated by taking the most recent total annual dividend amount paid by a company and dividing it by today's share price.

Hence, trailing dividends are based on the previous year's income. Next year's income could be different depending on what is happening with each individual business.

However, large-cap ASX businesses are mature in nature and typically have longstanding dividend payout ratios in place, and they rake in fairly reliable levels of income.

Bear in mind that some ASX large-caps, like the mining shares, are 'price-takers'. This means their income is partly out of their control because global commodity prices determine how much they can sell their products for each year.

What should you do next?

Now that you know which large-caps are the biggest ASX dividend payers based on trailing payments, it's time to do some further research.

We can help.

Conduct a ticker or company name search on our website to find our ticker pages for each company.

Our ticker pages incorporate each company's latest announcements and all the articles we have published relating to that ASX share.

In our article library, you will likely find stories documenting the latest predictions from the big brokers as to the dividend amounts they expect these ASX 200 large-cap shares to pay in FY23, FY24, and even FY25.

Motley Fool contributor Bronwyn Allen has positions in ANZ Group, BHP Group, Fortescue Metals Group, Westpac Banking Corporation, and Woodside Energy Group. 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 positions in and has recommended APA Group. 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

Red buy button on an Apple keyboard with a finger on it.
Dividend Investing

I invested thousands into these 2 ASX dividend shares this week

I’ve been investing heavily into these two names.

Read more »

A wad of $100 bills of Australian currency lies stashed in a bird's nest.
Dividend Investing

How many NAB shares do I need to buy for $10,000 a year in passive income?

NAB shares historically pay two fully-franked dividends every year.

Read more »

A cool young man walking in a laneway holding a takeaway coffee in one hand and his phone in the other reacts with surprise as he reads the latest news on his mobile phone
Dividend Investing

8% yield: The ASX is getting a new dividend stock that pays out monthly

This soon-to-be stock has averaged an 8% yield since 2016...

Read more »

Happy young couple saving money in piggy bank.
Dividend Investing

How many BHP shares do I need to $1,000 of passive income?

Let's run the numbers and find out what is needed.

Read more »

Man holding Australian dollar notes, symbolising dividends.
Dividend Investing

Where to invest $2,000 in ASX dividend shares

Morgans thinks these shares are buys with attractive forecast dividend yields.

Read more »

a woman puts a pen to her mouth as she smiles slightly while checking an old book style diary/calendar.
Dividend Investing

20 ASX shares with ex-dividend dates next week

To be eligible to receive a dividend, you must own the ASX share before the ex-dividend date.

Read more »

View of a business man's hand passing a $100 note to another with a bank in the background.
Dividend Investing

Everything you need to know about the latest Soul Patts dividend

Here’s how big the latest dividend is from the investment house…

Read more »

Australian dollar notes in the pocket of a man's jeans, symbolising dividends.
Dividend Investing

Fund manager names 3 top ASX 200 dividend stocks to buy today

A leading fund manager expects these quality ASX dividend stocks will boost their payouts.

Read more »