ASX dividends… oh, how we love them.
And more often than not, the ASX 200 large-cap mining shares are some of the most generous dividend payers, especially when demand is as strong as it is today for commodities like iron ore and copper.
But which large-cap miner is set to pay the highest ASX dividend in FY24?
Roll on the predictions…
Which ASX 200 large-cap mining share will pay the most in FY24?
To clarify, ASX 200 large-cap shares are those with market caps above $10 billion.
Among the ASX 200 mining shares are eight large-caps. They are led by the global giant BHP Group Ltd (ASX: BHP), with a mega market cap of just under $237 billion.
Here are the ASX dividend consensus forecasts as published on CommSec today.
ASX dividends: What the big miners will pay in FY24
| ASX 200 large-cap mining share | Dividend yield | Forecast |
| Fortescue Metals Group Ltd (ASX: FMG) | 5.53% | 141 cents |
| Rio Tinto Ltd (ASX: RIO) | 5.24% | 673 cents |
| BHP Group Ltd (ASX: BHP) | 4.76% | 228 cents |
| Newmont Corporation CDI (ASX: NEM) | 4.4% | 252 cents |
| South32 Ltd (ASX: S32) | 3.44% | 11 cents |
| Northern Star Resources Ltd (ASX: NST) | 2.63% | 31 cents |
| Pilbara Minerals Ltd (ASX: PLS) | 2.21% | 8 cents |
| Mineral Resources Ltd (ASX: MIN) | 1.39% | 90 cents |
Fortescue to pay the most despite 2-year share price high
Looks like Fortescue will be the most generous ASX dividend payer among the large-cap miners in FY24.
This is despite the Fortescue share price rising to two-year highs in recent weeks.
Fortescue shares are currently $25.51 apiece, up 0.16% today and up 22.6% over the past month.
Yesterday, Fortescue announced it will invest US$750 million (AU$1.1 billion) on a green projects rollout over the next three years.
The Fortescue board has approved a Final Investment Decision (FID) on the following:
- The Phoenix Hydrogen Hub in the United States
- The Gladstone PEM50 Project in Queensland
- The Green Iron Trial Commercial Plant in Western Australia
