Which ASX 200 financial share will pay the best dividend yield in FY24?

Is it a bank? Is it an insurer? Is it an investment company?

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The ASX 200 financial shares include banks, insurers, and investment houses and plenty of them pay handsome dividends.

So, let's look ahead and see how much passive income the experts predict these stocks will pay in FY24.

Which ASX 200 financial share will pay the most in FY24?

For the purposes of this article, we're going to limit our research to ASX 200 large-cap financial shares.

Large-caps are those with market capitalisations above $10 billion. They're some of the market's bigger, more well-established businesses and hence they are able to share more of their profits with investors.

Among the ASX 200 financial shares are 10 large-caps. They are led by Australia's biggest bank Commonwealth Bank of Australia (ASX: CBA), with a market cap of $173 billion.

Here are the ASX dividend consensus forecasts as published on CommSec today.

ASX dividends: What the big financial stocks will pay in FY24

ASX 200 large-cap financial shareDividend yieldForecast
Westpac Banking Corp (ASX: WBC)6.76%144 cents
ANZ Group Holdings Ltd (ASX: ANZ)6.66%162 cents
QBE Insurance Group Ltd (ASX: QBE)6.54%91 cents
National Australia Bank Ltd (ASX: NAB)5.92%168 cents
Suncorp Group Ltd (ASX: SUN)5.17%72 cents
Insurance Australia Group Ltd (ASX: IAG)4.60%27 cents
Commonwealth Bank of Australia (ASX: CBA)4.32%450 cents
Macquarie Group Ltd (ASX: MQG)3.84%645 cents
ASX Ltd (ASX: ASX Ltd)3.74%215 cents
Washington H Soul Pattinson and Company Ltd (ASX: SOL)2.81%94 cents
Dividend yields on these ASX 200 financial shares have been calculated based on their share prices at the time of writing

Westpac to pay the biggest dividend

Looks like Westpac will be the most generous ASX dividend payer among the large-cap financial shares in FY24.

Broker Ord Minnett has an accumulate rating on Westpac with a 12-month share price target of $28.

Motley Fool contributor Bronwyn Allen has positions in Anz Group, Commonwealth Bank Of Australia, Macquarie Group, and Westpac Banking Corporation. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Macquarie Group and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Macquarie Group and Washington H. Soul Pattinson and Company Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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