Pitting ASX mining shares against ASX bank stocks on the subject of dividends is like asking swimming legends Ian Thorpe and Grant Hackett to race each other at the peak of their careers.
No matter who comes first, both are going to put in a reliably outstanding performance.
ASX mining shares and ASX bank stocks have long histories as reliable ASX dividend shares.
The mining shares can outdo bank stocks quite substantially when commodity prices are high, but regardless, you're going to get a very decent dividend yield out of both of them over the long term.
But just for fun (we're nerdy like that here at the Fool), let's take a look at whether ASX mining shares or ASX bank stocks will pay more than the other in FY24.
Will ASX mining shares reign supreme in FY24?
For the purposes of this article, let's stick to large-cap stocks, which are those with market caps above $10 billion. These are big, established companies delivering reliable earnings year after year.
The tables below showcase the dividend forecasts published on CommSec that are current as of today.
Drum roll, please…
How much will these ASX mining shares pay in FY24?
| ASX mining share | Dividend yield | Forecast |
| Fortescue Metals Group Ltd (ASX: FMG) | 6.6% | 141 cents |
| Rio Tinto Ltd (ASX: RIO) | 6.1% | 690.4 cents |
| Mineral Resources Ltd (ASX: MIN) | 1.9% | 109.8 cents |
| Newcrest Mining Ltd (ASX: NCM) | 1.5% | 38 cents |
| South32 Ltd (ASX: S32) | 3.3% | 11 cents |
| Pilbara Minerals Ltd (ASX: PLS) | 3.3% | 12.5 cents |
| BHP Group Ltd (ASX: BHP) | 5.2% | 230.1 cents |
How much will these ASX bank stocks pay in FY24?
| ASX bank share | Dividend yield | Forecast |
| ANZ Group Holdings Ltd (ASX: ANZ) | 6.4% | 162 cents |
| Commonwealth Bank of Australia (ASX: CBA) | 4.6% | 450 cents |
| Westpac Banking Corp (ASX: WBC) | 6.7% | 141 cents |
| National Australia Bank Ltd (ASX: NAB) | 5.8% | 168 cents |
| Macquarie Group Ltd (ASX: MQG) | 3.9% | 630 cents |
| Bendigo and Adelaide Bank Ltd (ASX: BEN) | 7.2% | 64 cents |
| Bank of Queensland Ltd (ASX: BOQ) | 6.7% | 37 cents |
The conclusion…
Based on these dividend forecasts and today's share prices, the banks win!
The average forecast yield among this group of bank shares is 5.9%. The average forecast yield among this group of mining shares is 4%.
