A 5% dividend yield is commonly seen as a good solid return for ASX shares.
These days, 5.3% is the best you'll get from a simple savings account. But with ASX shares, you get the dual benefit of dividends and, possibly, capital growth over the long term.
And if you buy fully franked ASX dividend shares, you'll receive the maximum tax credits, too.
ASX dividend shares expected to pay 5% or more
For this article, we're using broker forecasts for FY23 and FY24 instead of trailing yields.
We're also excluding ASX mining shares because everyone knows their yields are sky-high at the moment, due to strong commodity prices. Let's look at some different stocks, instead.
We'll start with some ASX retail shares.
Super Retail Group Ltd (ASX: SUL)
Goldman Sachs is forecasting fully franked dividends per share of 74.1 cents in FY23 and 62.6 cents in FY24.
The Super Retail share price is currently $11.07, which means yields of 6.7% and 5.65%, respectively.
Accent Group Ltd (ASX: AX1)
Goldman Sachs is forecasting fully franked dividends per share of 15 cents in FY23 and 8 cents in FY24.
Based on the Accent share price of $1.62, this represents yields of 9.7% and 4.9%, respectively.
Shaver Shop Group Ltd (ASX: SSG)
Commsec estimates an annual fully franked dividend of 10.3 cents per share in FY23 and 10.7 cents in FY24.
The Shaver Shop share price is currently 96 cents, so the yields would be 14.7% and 15.3%, respectively.
Next up, let's look at some ASX property shares and real estate investment trusts (REITs).
Dexus Industria REIT (ASX: DXS)
Analysts at Macquarie are forecasting partly-franked distributions of 16.4 cents per share in FY23 and 16.7 cents in FY24.
Based on the current Dexus Industria share price of $2.81, this means yields of 5.8% and 5.95%, respectively.
Stockland Corporation Ltd (ASX: SGP)
Citi analysts are forecasting unfranked dividends of 26.6 cents per share in both FY23 and FY24.
Based on the current Stockland share price of $4.10, this will mean yields of 6.5% in both years.
Of course, when it comes to strong dividend payers, we have to look at the ASX 200 bank shares.
National Australia Bank Ltd (ASX: NAB)
Goldman is forecasting fully franked dividends of $1.66 per share in FY23 and FY24.
Based on the current NAB share price of $25.28, this implies yields of 6.6% in both years.
Westpac Banking Corp (ASX: WBC)
Goldman is tipping fully franked dividends of $1.40 per share in both FY23 and FY24.
Based on the current Westpac share price of $20.17, this will mean yields of 7% in both years.
ANZ Group Holdings Ltd (ASX: ANZ)
Citi is expecting ANZ shares to pay fully franked dividends of $1.64 in FY23 and $1.66 in FY24.
Based on the current ANZ share price of $22.74, this will mean yields of 7.2% and 7.3%, respectively.
Last but not least, an ASX energy share…
Woodside Energy Group Ltd (ASX: WDS)
We recently identified Woodside as the top ASX dividend share (on a trailing yield basis) among the ASX 200 large-cap stocks.
Looking ahead, Citi is expecting Woodside shares to pay fully franked dividends of $2.14 in FY23 and $2.34 in FY24.
The Woodside share price is currently $34.87, so this will mean yields of 6.1% and 6.7%, respectively.
