Nabbing yourself a sustainable dividend yield from an ASX 200 share of more than 7% is always a hard ask. Sure, plenty of ASX shares do offer trailing yields over 7%. But there is always the possibility that these shares might be examples of the dreaded dividend trap'.
A dividend trap is a company that is under financial stress, with little prospect of being able to maintain previous dividend levels. As such, it could draw unwary investors in based on its previous dividend payments, but investors quickly lose capital when the company goes ahead and slashes its dividends.
Some dividend traps are only obvious in hindsight. But equally, there are plenty of ASX shares that have offered sustainably high dividend yields before.
So today, let's discuss some ASX 200 dividend shares that are predicted to give investors a dividend yield of more than 7% in the 2024 financial year. If any of these shares don't live up to expectations, they could well become dividend traps. But let's hope not.
This data comes from CommSec projections on the dividend payouts expected in FY2024.
7 ASX 200 dividend shares that could give investors a 7%-plus yield
New Hope Corporation Limited (ASX: NHC)
ASX 200 coal miner New Hope really upped its dividend game in 2022 thanks to record high energy prices. CommSec expects the gravy train to keep on chugging next financial year, with an estimated dividend payout of $1.30 per share.
If that came to pass, it would give investors a yield of just over 20%. No doubt shareholders will be salivating at that prospect.
Coronado Global Resources Inc (ASX: CRN)
Coronado is another ASX 200 coal share that really upped its dividend ante in 2022, which leaves the company with a trailing yield of over 11% today.
But CommSec thinks Coronado will remain an income powerhouse, with 24.2 cents per share expected in FY2024. That would result in a forward yield of 11.81% on today's pricing.
Whitehaven Coal Ltd (ASX: WHC)
Yet another ASX 200 coal share, Whitehaven also showered investors with cash last year.
Shareholders bagged 48 cents per share in payouts in 2022, but projections show this rising to a whopping 91 cents by FY2024. That would bring Whitehaven's yield to more than 10%.
Woodside Energy Group Ltd (ASX: WDS)
It wasn't just ASX 200 coal shares that turned up the income dial last year. Oil giant Woodside was also the beneficiary of rising prices, with shareholders netting a record $4.66 per share in dividend payments last year.
CommSec has this dropping to $2.76 by Fy2024. But even so, that would result in a yield of 7.5% at current prices.
Bank of Queensland Ltd (ASX: BOQ)
Moving away from miners and drillers, we have an ASX 200 bank share up next. Bank of Queensland shares, like the other ASX banks, have always been dividend heavyweights.
Projections point to this continuing well into the future, with BoQ shares predicted to shell out 52 cents per share over FY2024. That would be a pleasing increase over the 42 cents Bank of Queensland doled out in 2022. This would give the company a yield of 7.34%.
Nine Entertainment Co Holdings Ltd (ASX: NEC)
Nine, the media conglomerate best known for its eponymous television channel, is another ASX 200 dividend beast.
Investors were treated to 14 cents per share in payouts last year, but CommSec reckons this will hold pretty steady at 13.7 cents per share by FY2024. That would give investors a forward yield of 7.06% at today's levels.
AGL Energy Ltd (ASX: AGL)
ASX 200 energy utility share AGL has had a rough couple of years, which were unfortunately accompanied by dividend cuts. The company paid out its lowest dividend in almost a decade last year, with 26 cents per share going to investors.
But projections indicate that the worst might be over for investors, with dividends estimated at 56 cents per share by FY2024. That would result in a forward yield of 7.18% at the current share price.
