Traditionally, the Australian share market provides investors with an average dividend yield of 4%.
But you don't need to settle for that. Not when there are high-yield ASX dividend shares out there offering so much more.
For example, the three shares listed below have been named as buys and tipped to provide investors with dividend yields of 5% to 6%. Here's what you need to know:
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IPH Ltd (ASX: IPH)
Goldman Sachs continues to believe that this global intellectual property (IP) services company is an ASX dividend share to buy.
Last week, the broker noted that the company "delivered a solid FY24 result as organic growth sequentially improved across the business." The good news is that it believes this can continue, highlighting that "IPH is well-placed to deliver consistent and defensive earnings with modest overall organic growth."
Goldman expects this to underpin fully franked dividends of 37 cents per share in FY 2025 and then 40 cents per share in FY 2026. Based on the current IPH share price of $6.48, this represents yields of 5.7% and 6.2%, respectively.
The broker currently has a buy rating and $8.25 price target on its shares.
Regal Partners Ltd (ASX: RPL)
Analysts at Bell Potter are positive on this fund manager and think it could be an ASX dividend share to buy.
The broker continues "to favour RPL, given its strong organic & inorganic growth potential, and entrepreneurial culture." It also believes that its "strong performance is not reflected in the share price and see considerable upside."
In addition, Bell Potter is forecasting fully franked dividends per share of 20.3 cents in both FY 2024 and FY 2025. Based on its current share price of $3.41, this represents dividend yields of 5%.
The broker has a buy rating and $4.75 price target on its shares.
Woodside Energy Group Ltd (ASX: WDS)
Finally, Morgans thinks that energy giant Woodside could be an ASX dividend share to buy.
The broker believes that now could be "a good time to add to positions" following recent share price weakness and sees major upside potential.
It also sees potential for big dividend yields in the coming years. The broker is forecasting fully franked dividends of $1.28 per share in FY 2024 and then $1.54 per share in FY 2025. Based on its current share price of $25.84, this will mean yields of 5% and then 6%.
The broker has an add rating and $35.00 price target on Woodside's shares.
