Looking to bank some handy passive income with ASX dividend shares?
Below, we look at three quality stocks trading at yields of more than 11%. Two of these companies pay fully franked dividends, which can be quite useful come tax time.
Before we dive into the ASX dividend shares in question, do note that the yields you generally see quoted – and those we discuss below – are trailing yields. These are based on the dividends paid (or declared) over the past 12 months. Future yields may be higher or lower, depending on a range of company-specific and macroeconomic factors.
With that said…
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Three ASX dividend shares offering juicy yields
The first quality ASX dividend share is All Ordinaries Index (ASX: XAO) department store operator Myer Holdings Ltd (ASX: MYR).
Myer paid a final dividend of 2.5 cents per share on 7 November. The retailer paid an interim dividend of 8 cents per share on 11 May. That comes out to a full-year dividend payout of 10.5 cents per share, fully franked.
At the current Myer share price of 67 cents, that equates to a trailing yield of 15.7%.
Take that, inflation!
The Myer share price is up 33% over the past 12 months.
The next inflation-busting, quality ASX dividend share is S&P/ASX 200 Index (ASX: XJO) coal stock New Hope Corp Ltd (ASX: NHC).
New Hope paid a final dividend of 56 cents per share on 8 November. The ASX 200 miner paid an interim dividend of 40 cents per share on 3 May. That works out to a full-year payout of 96 cents per share, fully franked.
At the current New Hope share price of $5.72, that equates to a fully franked trailing yield of 16.8%.
Boom!
The New Hope share price is up 13% over the past 12 months.
Which brings us to the third quality ASX dividend share paying market-beating yields.
Namely, ASX 200 real estate investment trust (REIT) and fund manager Cromwell Property Group (ASX: CMW).
Unlike the two stocks above, the Cromwell Property share price has taken a big hit over the past year, down 38%.
However, I believe that with inflation coming under control and the end of the interest rate tightening cycle in sight, the worst of the pain is over for this REIT.
Cromwell Property pays quarterly dividends, unfranked.
Over the past 12 months, the ASX dividend share has paid out a total of 5.6 cents per share in passive income.
At the current Cromwell Property share price of 50 cents, that equates to a trailing yield of 11.2%.
