The Australian share market typically offers investors an average dividend yield of 4%.
While this yield is respectable, investors don't have to settle for average returns. Especially when there are high-yield ASX dividend stocks currently being recommended as strong buys.
Here's a look at three of them:
Clearview Wealth Ltd (ASX: CVW)
According to analysts at Morgans, Clearview Wealth could be a high-yield ASX dividend stock worth considering.
This life insurance company collaborates with financial advisers to help Australians safeguard their wealth. Morgans believes Clearview is well-positioned for strong earnings growth in the coming years, driven by its ongoing transformation program.
It expects this to support fully franked dividends of 3.6 cents per share in FY 2025 and then 4.3 cents per share in FY 2026. Based on the current Clearview share price of 51 cents, this would mean dividend yields of 7% and 8.4%, respectively.
The broker has an add rating and 81 cents price target.
Eagers Automotive Ltd (ASX: APE)
Eagers Automotive is another ASX dividend stock worth considering this week.
This automotive retail group operates over 250 locations across Australia and New Zealand and has a diverse portfolio that includes all 19 of the top 20 best-selling car brands in Australia and 9 of the top 10 luxury brands.
The team at Bell Potter remains positive about the company. In fact, it suspects that Eagers Automotive could surpass consensus expectations with its second-half performance in FY 2024.
The broker believes this leaves Eagers Automotive well-placed to pay its shareholders fully franked dividends of 66.5 cents per share in FY 2024 and then 73 cents per share in FY 2025. Based on its current share price of $11.13, this represents dividend yields of 6% and 6.6%, respectively.
Bell Potter currently has a buy rating and $13.00 price target on its shares.
Healthco Healthcare and Wellness REIT (ASX: HCW)
HealthCo Healthcare & Wellness REIT is a third high-yield ASX dividend share recommended as a buy right now.
This real estate investment trust focuses on properties in hospitals, aged care, childcare, government, life sciences and research, as well as primary care and wellness.
Analysts at Bell Potter are optimistic about its potential, citing a "significant scope for growth with an estimated $218 billion addressable market."
For now, the broker is forecasting dividends of 8.4 cents per share for FY 2025 and then 8.7 cents per share in FY 2026. Based on the current Healthco Healthcare and Wellness REIT unit price of $1.12, this will mean dividend yields of 7.5% and 7.8%, respectively.
Bell Potter currently has a buy rating and $1.50 price target on its shares.