The highest yielding ASX 200 stocks: Which ones will deliver in 2024?
There are 28 ASX 200 companies with trailing yields of more than 8%.
Mentioned
KEY POINTS
- Financials dominate high-yielders (15 companies), with 8 listed investment funds/trusts also offering attractive yields
- The average one-year performance of these high-yielding companies is -8.1% in the past twelve months
- Only Yancoal, Myer, Helia Group and Insignia are forecast to grow dividend per share payouts in 2024
The dividend yield scan locates ASX 300 companies with a trailing yield of more than 8% and identifies the ones forecast to raise dividends in FY24.
There are currently 28 companies with a trailing dividend of more than 8%.
15 companies are from the Financials sector
This includes 8 listed investment funds and trusts
The average one year performance is -8.1%
The Highest Dividend Yields
The below data is sorted from highest to lowest yield (excluding listed investment funds and trusts).
Code | Company | Price | Yield | 1-Year |
|---|---|---|---|---|
Yancoal Australia | $5.33 | 20.07% | -14.03% | |
Myer | $0.64 | 14.06% | -7.91% | |
Magellan | $8.93 | 13.07% | -4.80% | |
New Hope Corp | $5.38 | 13.01% | -13.51% | |
Zimplats | $21.86 | 12.85% | -20.22% | |
Cromwell Property Group | $0.40 | 12.39% | -42.45% | |
Helia Group | $4.45 | 12.36% | 60.07% | |
Platinum Asset Management | $1.18 | 11.86% | -44.60% | |
BSP Financial | $5.50 | 11.38% | 13.40% | |
Woodside Energy | $31.63 | 10.74% | -13.81% | |
Centuria Office REIT | $1.33 | 10.21% | -16.09% | |
WAM Capital | $1.56 | 9.94% | -3.41% | |
IGO Ltd | $7.59 | 9.75% | -48.23% | |
Air New Zealand | $0.60 | 9.24% | -16.20% | |
Whitehaven Coal | $8.13 | 9.10% | -7.19% | |
Growthpoint Properties Australia | $2.39 | 8.95% | -24.61% | |
Insignia Financial | $2.27 | 8.72% | -37.12% | |
Abacus Group | $1.11 | 8.47% | -58.74% | |
Accent Group | $2.13 | 8.22% | 14.52% |
Data as at Monday, 15 January 2024 close (Source: Refinitiv)
And a separate list for the funds and trusts.
Code | Company | Price | Yield | 1-Year |
|---|---|---|---|---|
NB Global Corporate Income Trust | $1.50 | 9.54% | 3.45% | |
Qualitas Real Estate Income Fund | $1.61 | 9.31% | 9.15% | |
Metrics Income Opportunities Trust | $2.18 | 9.08% | 6.86% | |
Metrics Master Income Trust | $2.05 | 8.79% | 5.13% | |
Hearts and Minds Investments | $2.49 | 8.23% | 3.32% | |
Regal Investment Fund | $2.78 | 8.19% | -5.44% | |
Gryphon Capital Income Trust | $2.06 | 8.11% | 3.52% | |
KKR Credit Income Fund | $2.21 | 8.00% | 16.32% |
Data as at Monday, 15 January 2024 close (Source: Refinitiv)
Only Four Stocks Are Set to Grow Dividends
Only four stocks (ex-funds and trusts) are forecast to grow their dividend payouts (dollar amount) in 2024, according to Refinitiv. This includes:
Yancoal: The $7 billion market cap Yancoal is known for its massive dividend yield, backed by strong earnings. It delivered $973 million in first-half FY23 profit after tax and paid out just over half of that as an interim dividend ($489 million or 37 cents per share).
Myer: The past 12-24 months has been a massive turnaround for Myer. Its FY23 results reported net profit after tax of $71.1 million, the highest since FY15. The company paid out 9 cents per share in FY23, which includes a 4.0 cents per share special interim dividend.
Helia Group: Macquarie expects gross written premiums for the insurer to decline and remain under pressure in FY24. The analysts expect earnings to fall 27% year-on-year in FY24 but expect the company to keep dividends in-tact (via a higher payout ratio).
Insignia Financial: Insignia is a tricky one as its current CEO is set to depart in February 2024 coupled with the rollout of FY24-26 initiatives. The stock sold off 13% on 20 October 2023 after its 1Q24 business update flagged net funds under management and administration outflows of $1.4 billion.
