ASX consumer staple shares are about as defensive as you can get in tough economic conditions.
These companies sell goods and services that are non-negotiables for life.
Even when prices rise considerably, as they have over the past two years, we still buy these items because we deem them to be necessities.
Therefore, consumer staples companies generally enjoy very reliable revenue streams no matter what the broader economy is doing.
And our economy is doing it tough right now amid higher interest rates and the impact of strong inflation.
So, what does this mean for consumer staples dividends this year?
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Dividend forecasts for ASX 200 consumer staples shares
Let's take a look at the forecast 2025 dividend yields for ASX 200 consumer staples shares.
In this article, we'll focus on the top 10 consumer staples shares by market capitalisation.
The following chart shows the consensus analysts' forecasts for 2025 dividends, as published on the CommSec trading platform today.
We've calculated the dividend yields they represent based on share prices at the time of writing.
We've also included the dividend amounts paid in 2024 so you can compare them to the 2025 forecasts.
These ASX 200 consumer staples shares are listed in order of market cap from largest to smallest.
| ASX consumer staples share | 2024 dividend | Forecast 2025 dividend | Yield |
| Woolworths Group Ltd (ASX: WOW) | $1.44 | $1.06 | 3.53% |
| Coles Group Ltd (ASX: COL) | 68 cents | 68 cents | 3.53% |
| Treasury Wine Estates Ltd (ASX: TWE) | 36 cents | 43 cents | 4.03% |
| Endeavour Group Ltd (ASX: EDV) | 21.8 cents | 21.8 cents | 5.27% |
| A2 Milk Company Ltd (ASX: A2M) | N/A | Maiden dividend (no forecast) | |
| Metcash Ltd (ASX: MTS) | 19.5 cents | 17 cents | 5.45% |
| Bega Cheese Ltd (ASX: BGA) | 8 cents | 11 cents | 1.93% |
| Graincorp Ltd (ASX: GNC) | 48 cents | 38.5 cents | 5.24% |
| Elders Ltd (ASX: ELD) | 35.4 cents | No forecast available | |
| Inghams Group Ltd (ASX: ING) | 20 cents | 20.5 cents | 6.43% |
As you can see, Inghams is the consumer staples share expected to pay the highest dividend yield of this group in 2025.
The Australia and New Zealand poultry producer will announce its 1H FY25 results on 21 February.
A2 Milk investors will receive their first dividend this earnings season.
The company will announce a maiden dividend alongside its 1H FY25 results on 17 February.
A2 Milk announced its formal dividend policy last November. The payout ratio will be between 60% and 80% of net profit after tax (NPAT), excluding non-recurring and other items (normalised NPAT).
The company has told investors to expect an interim dividend at the bottom end of the payout range.
What do the experts say?
Analysts say expectations of an interest rate cut in Australia should help ASX consumer staples and discretionary shares.
The Reserve Bank will announce its next decision on interest rates on 18 February.
Dr Shane Oliver, Chief Economist at AMP Ltd (ASX: AMP), told news.com.au:
A rate cut should favour rate sensitive parts of the market including consumer discretionary and consumer staples.
Consumer staples benefit as well because people spend on higher margin stuff in good times.
