ASX dividend shares are so important to have in your portfolio right now, given the low interest rate environment we're in.
The Reserve Bank of Australia has slashed rates 75 basis points (bps) lower this year to just 0.75%. That could be going even lower with some banks tipping rates to hit 0.25% in 2020.
So, if you're on the hunt for some yield, check out these 5 ASX dividend shares that are yielding 5% or more right now.
1. Alumina Limited (ASX: AWC)
Alumina has been a long-standing top ASX dividend stock. The Aussie alumina miner is yielding an impressive 10.98% right now.
If you're buying Alumina shares you're effectively speculating on commodities pricing. The company's joint venture provides its revenue stream and at the moment alumina prices are doing well.
Reduced supply and strong demand have combined to prop up spot prices around the globe. That means Alumina has a strong dividend and some capital gains as well.
2. Woodside Petroleum Limited (ASX: WPL)
Woodside has surprised me in 2019 in delivering capital gains and a steady income stream.
The Aussie oil producer is yielding 5.21% per annum thanks largely to current oil prices. Once again, Woodside is heavily exposed to the crude oil prices around the world.
If you see oil prices keeping steady in 2020, Woodside could be a strong ASX dividend share for your portfolio.
3. Harvey Norman Holdings Limited (ASX: HVN)
Harvey Norman has long been considered a blue-chip ASX dividend share, and that's for good reason.
The Aussie retailer yields 7.81% per annum and is up 32.59% this year. Despite supposed weakness in the retail sector, Harvey Norman and its dividend hasn't been impacted just yet.
There are some question marks of Chairman Gerry Harvey and his battle with activist shareholders, but there's little doubt it's a solid dividend option.
4. Australia and New Zealand Banking Group (ASX: ANZ)
ANZ may not be the highest yielding big four bank, but it may be the most stable ASX dividend share among them.
Westpac Banking Corp (ASX: WBC) yields 7.11% compared to ANZ's 6.48%, but has also been hit by the recent AUSTRAC scandal.
If you're looking to add banking sector stocks to your portfolio, ANZ might just be the best dividend stock to buy right now.
5. Scentre Group (ASX: SCG)
It wouldn't be an ASX dividend list without an Australian real estate investment trust (A-REIT) in the mix.
Scentre Group owns and operates the Westfield shopping centre chain, which means it is heavily exposed to retail.
The A-REIT is yielding 5.06% per annum and could be a good diversification option for your ASX 200 dividend share portfolio.
