10 ASX dividend shares paying more than 10% yield right now

When it comes to dividend yields, not all shares are made equal…

Excited male and female hipsters rejoice in good news received on their mobile phones.

Image Source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

ASX dividend shares with yields over 10%? What could be better?

An ASX dividend share offering a 10% or greater yield on one's cash is a compelling proposition. We only found out this week that Australia's annual inflation rate is running at 6.9%. This technically means that if a dividend yield is under that threshold, the payments alone are not keeping your returns above breakeven.

So a 10% yielder is looking pretty good on that basis.

But finding high-yield ASX dividend shares is a bit of a risky business. There are plenty out there, to be sure. But if an ASX dividend share is offering a trailing yield above 10%, it's a sign that an investor might have to be wary. A company's trailing dividend yield reflects the past, not the future.

And if the share market lets a share trade with a trailing yield of more than 10%, it can often mean that many investors aren't expecting the dividends to continue at that level.

Otherwise, there would be more buyers, pushing the yield lower. So, always take a high dividend yield with a grain of salt.

But we digress. Here are 10 ASX dividend shares offering a dividend yield above 10% right now. The data comes from S&P Global Market Intelligence.

10 ASX shares with dividend yields over 10% today

Smartgroup Corporation Ltd (ASX: SIQ)

Smartgroup has paid out 66 cents per share in dividends over the past 12 months. That includes the March special dividend of 30 cents per share. This gives Smartgroup a trailing dividend yield of 12.6% right now.

Tabcorp Holdings Limited (ASX: TAH)

Gaming services provider Tabcorp has doled out payments worth a collective 13 cents per share this year. That gives Tabcorp a trailing yield of 12.42% at current pricing. But keep in mind that Tabcorp spun out Lottery Corporation Ltd (ASX: TLC) earlier this year, so this could affect Tabcorp's future dividend levels.

Yancoal Australia Ltd (ASX: YAL)

ASX coal share Yancoal is next up. This coal company has rained cash on its shareholders this year. It has doled out $1.03 in ordinary dividends per share, as well as a special dividend of 20.4 cents, for a total of $1.23 in dividends per share for 2022. That translates to a trailing dividend yield of 17.56% for just the ordinary dividends, and a whopping 21%, including the special dividend.

Magellan Financial Group Ltd (ASX: MFG)

ASX fund manager Magellan is another high-yielding share right now. This company has rolled out a total of $1.79 in dividends per share this year. At Magellan's current share price, that is worth a trailing yield of 18.34%

Latitude Group Holdings Ltd (ASX: LFS)

Financial services company Latitude is another relative newcomer to the ASX, having only listed in April last year. But it has certainly hit the ground running when it comes to dividend payments. Latitude has funded a total of 15.7 cents per share in dividends in 29022. That gives the ASX financial share a trailing yield of 11.89% right now.

Fortescue Metals Group Limited (ASX: FMG)

Fortescue is one of the ASX's more well-known dividend payers these days. And over 2022, Fortescue did not disappoint in this regard. Investors have enjoyed a total of $2.07 in dividend payments per share this year. That gives Fortescue a trailing yield of 10.51% today.

Base Resources Ltd (ASX: BSE)

Mineral sands producer Base Resources is next. This company has given investors two dividends worth 3 cents per share each over 2022. On today's share price of 21 cents, that equates to a trailing yield of a whopping 28.57%

SPDR S&P/ASX 200 Resources ETF (ASX: OZR)

This exchange-traded fund (ETF) has had a top year when it comes to distribution payouts. This fund, as its name implies, holds a basket of ASX resources shares. So you can understand why it has been able to make its investors very happy in this regard. Investors have enjoyed payments worth a total of $2.08 per unit this year. That gives this ETF a trailing yield of 14.54% on today's pricing

Regal Investment Fund (ASX: RF1)

Listed investment trust Regal is another dividend share with an enviable yield. Investors have enjoyed distributions worth 39.56 cents per unit over the past 12 months. That gives the Regal Investment Fund a trailing distribution yield of 12.21%.

SPDR MSCI Australia Select High Dividend Yield ETF (ASX: SYI)

Our final share to check out today is another ETF. As its name implies, this fund from SPDR focuses on holding a basket of high-yield dividend shares. It pays distributions quarterly, which, over the past 12 months, totals $4.29 per unit. On the current unit price of $27.95, that gives this ETF a trailing yield of 15.35%.

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Smartgroup. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

A mature-aged couple high-five each other as they celebrate a financial win and early retirement
Dividend Investing

5 top ASX dividend shares to buy right now

Analysts think income investors should be loading up on these shares.

Read more »

Two adults and a child look happy as they walk through airport with child sitting on suitcase.
Dividend Investing

Will Qantas shares pay a dividend in 2024?

Will the dividends return this year? Let's find out.

Read more »

A woman sits at her computer with her chin resting on her hand as she contemplates her next potential investment.
Dividend Investing

2 market-leading ASX dividend stocks to buy in April

Analysts have put buy ratings on these market-leaders.

Read more »

Father in the ocean with his daughters, symbolising passive income.
Dividend Investing

I'd spend $8k on these ASX 200 shares today to target a $6,102 annual passive income

I believe these ASX 200 shares will continue rewarding passive income investors for years to come.

Read more »

Man holding Australian dollar notes, symbolising dividends.
ETFs

Want the latest dividend from the Vanguard Australia Shares ETF (VAS)? Here's what you have to do

If you want to bag the latest VAS dividend, here's what you need to do.

Read more »

A smiling businessman in the city looks at his phone and punches the air in celebration of good news.
Dividend Investing

Investing for passive income? Keep any eye out for that boosted Telstra dividend today!

If you own Telstra shares, keep an eye out for that juicy dividend payout today.

Read more »

A happy construction worker or miner holds a fistfull of Australian money, indicating a dividends windfall
Dividend Investing

Invest $12,000 in Woodside stock and get $5,700 in passive income

Reliable dividend shares are everywhere on the ASX. Here's how you could use that to your advantage.

Read more »

Australian dollar notes in businessman pocket suit, symbolising ex dividend day.
Dividend Investing

3 ASX 300 dividend shares to buy in April

These shares have been named as buys by brokers and tipped to offer very attractive yields.

Read more »