ASX dividend shares are hot property these days.
Investors are recognising the elevated importance of dividends given share price volatility in the market today, largely due to macroeconomic factors.
High interest rates (currently at 4.1%) and inflation (currently at 5.6% per annum) have changed the investment arena, according to some international and local experts.
They say dividends will form a greater share of investors' returns than capital growth in the years ahead.
The next earnings season is imminent, with lots of ASX companies set to announce their next round of dividend payments in August.
So, if you're looking for income shares to add to your portfolio for the long term, we'd like to help.
In this article, we take a look at which ASX All Ords shares are trading on the highest yields right now.
We recently reported the top 10 ASX 200 large-cap shares for dividends and the top 10 ASX 200 mid-cap shares for dividends.
In this article, we exclude the ASX 200 to give you more options. So, the ASX dividend shares listed below are all ranked between 201 to 500 in the S&P/ASX All Ordinaries Index (ASX: XAO).
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Insignia Financial shares pay the highest ASX dividends
According to data provided by TradingView, the top five ASX All Ords shares offering the best trailing dividend yields are as follows.
| ASX ALL ORDS SHARE | ASX DIVIDEND YIELD | PAID PER SHARE |
| Insignia Financial Ltd (ASX: IFL) | 8.2% | 22.3 cents |
| WAM Leaders Ltd (ASX: WLE) | 5.8% | 8.5 cents |
| EVT Ltd (ASX: EVT) | 2.3% | 26 cents |
| InvoCare Ltd (ASX: IVC) | 2% | 25 cents |
| Blackmores Ltd (ASX: BKL) | 1.25% | $1.19 |
As you can see, there are slim pickings in terms of stocks outside the ASX 200 that pay high yields.
And as you can see in our other articles, the top 10 ASX 200 large-cap stocks for dividends pay yields of between 5.4% and 10.6%.
The top 10 ASX 200 mid-cap stocks for dividends pay yields of between 7.9% and 26.3%.
What's a trailing dividend yield?
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.
So, you need to bear in mind that trailing yields are based on the previous year's income. That means next year's dividends could be higher or lower, depending on what happens with each company.
Further reading on ASX dividends
Ready for more research?
If ASX 200 bank shares are more your style, we can tell you the brokers' dividend forecasts for FY24.
Another dividend strategy that may be worth pursuing is investing in stocks with a strong history of raising dividends.
Check out these 5 ASX 200 shares that have raised payouts every year for 10+ years.
Once you've identified some dividend shares you're interested in, conduct a ticker code search on our website. You'll find a vast library of articles on each company as well as their recent announcements.
Also remember, you can take your dividends as cash or reinvest them automatically through companies' dividend reinvestment plans (DRPs).
In FY23, investors who reinvested their ASX dividends got a 54% boost to their annual returns.
