The All Ordinaries index (ASX: XAO) can be a great place to find All Ords ASX shares that could pay large dividends in the coming years.
I understand why investors are attracted to names like Commonwealth Bank of Australia (ASX: CBA) and Woodside Energy Group Ltd (ASX: WDS). But, I'm looking for businesses that can provide much more growth in the coming years.
It's much easier to grow a business from $5 billion to $10 billion, than $50 billion to $100 billion, in my opinion.
With that in mind, I think these two ASX All Ords shares are very interesting with their growth plans.
Pacific Current Group Ltd (ASX: PAC)
Pacific Current describes itself as a multi-boutique asset management business that applies strategic resources, including capital, institutional distribution capabilities and operational expertise to help partners. As of February 2023, it had investments in 15 asset managers globally.
Some of its investments include Banner Oak, Astarte, ROC, Victory Park and GQG Partners Inc (ASX: GQG).
In the first half of FY23, the company saw its boutiques' funds under management (FUM) rise by 3.5% to $175 billion. It boasted that its boutiques have had 24 consecutive quarters of positive net flows. Management fee-related revenue increased 52%.
The All Ords ASX share is expecting management fee revenue and performance fee revenue. Additional investments are "likely" in the second half of FY23.
By FY25, the business could be paying an annual dividend of 47 cents per share. That would be a grossed-up dividend yield of close to 10%.
Mineral Resources Ltd (ASX: MIN)
Mineral Resources is one of the larger All Ords ASX mining shares. It offers mining services, while also being a sizeable iron ore miner and lithium miner itself.
While the business is already making profits thanks to its current mining operations, the company's expansion efforts in both iron and lithium are expected to unlock larger profit and cash flow generation.
Using the estimates on Commsec, the business is expected to generate earnings per share (EPS) of $7.32 in FY23.
In FY24, the business is expected to more than double its EPS. The current estimate for the 2024 financial year is $15.82 in EPS. That means Mineral Resources shares are valued at around 6 times FY24's estimated earnings.
The business is only expected to pay around a third of its earnings out as a dividend in FY24. The dividend per share could be $5.46, which would be a grossed-up dividend yield of 8.7%.
However, future dividends could be dependent on how commodity prices change from here.
