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

Healthcare stocks are a traditional defensive play in challenging economic times.

Person with a handful of Australian dollar notes, symbolising dividends.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

ASX 200 healthcare shares are considered a defensive play due to the dominance of the large-cap players and the reliable dividends they pay because they are relatively immune to economic headwinds.

With interest rates expected to stay higher for longer amid somewhat sticky inflation in Australia, are ASX 200 healthcare shares a wise investment for income investors looking to maximise their passive income?

Let's look at the experts' predictions on dividend yields in FY24.

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

In this article, we're going to focus on the six large-cap healthcare shares of the ASX 200.

Large-cap businesses are mature, well-established companies raking in reliable earnings year in, year out.

By definition, they have a market capitalisation above $10 billion.

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

ASX dividends: What the big healthcare shares will pay in FY24

ASX 200 healthcare shareDividend yieldForecast
Sonic Healthcare Ltd (ASX: SHL) 3.69%107 cents
Fisher & Paykel Healthcare Corporation Ltd (ASX: FPH) 1.8%39 cents
Ramsay Health Care Ltd (ASX: RHC) 1.73%83 cents
CSL Limited (ASX: CSL)1.53% 404 cents
Cochlear Limited (ASX: COH)1.4% 390 cents
ResMed CDI (ASX: RMD) 1.18% 29 cents
Dividend yields on these ASX 200 healthcare shares have been calculated based on their share prices and exchange rates at the time of writing

Sonic Healthcare shares to pay the biggest dividend in FY24

My colleague Mitch reckons Sonic Healthcare is an ASX dividend stock to buy and hold forever.

Sonic has an impressive 30-year history of steadily growing its dividend payments.

Over the past five years, dividends have increased at a 5.1% compound annual growth rate (CAGR).

Over the same period, the Sonic Healthcare share price has risen by more than 30%.

Will other ASX 200 shares pay better dividends?

The short answer is yes.

The predicted dividend yields among top ASX 200 healthcare shares are well below those in other sectors.

Check out our recent articles on FY24 dividend forecasts for the following sectors:

Motley Fool contributor Bronwyn Allen has positions in CSL and Commonwealth Bank Of Australia. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Cochlear, and ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool Australia has recommended CSL, Cochlear, and Sonic Healthcare. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Dividend Investing

Analysts say these high-yield ASX dividend stocks are buys

Big yields are expected from these dividend stocks. But how big?

Read more »

A happy construction worker or miner holds a fistfull of Australian money, indicating a dividends windfall
Dividend Investing

Everything you need to know about the Rio Tinto dividend

Shareholders are getting a big dividend.

Read more »

Hand of a woman carrying a bag of money, representing the concept of saving money or earning dividends.
Dividend Investing

Buy these ASX 200 dividend shares for a big income boost

Analysts are saying good things about these income options.

Read more »

A woman in hammock with headphones on enjoying life which symbolises passive income.
How to invest

3 ASX 100 and ASX 200 shares I'd buy now for a $1,820 passive income in 2024!

These three ASX dividend shares offer investors market beating passive income.

Read more »

Man holding out Australian dollar notes, symbolising dividends.
Technology Shares

WiseTech increases dividend for 15th time in a row. Here's what you need to know

WiseTech's latest dividend continues a remarkable trajectory.

Read more »

Man holding out Australian dollar notes, symbolising dividends.
Consumer Staples & Discretionary Shares

Everything you need to know about the Woolworths dividend

Woolworths will pay out its largest interim dividend in three years in 2024.

Read more »

Man with rocket wings which have flames coming out of them.
Earnings Results

4 All Ords ASX dividend shares going gangbusters on results

All Ords investors are sending these ASX dividend shares soaring on the back of their earnings results.

Read more »

Happy dad watching tv with kids, symbolising passive income.
Dividend Investing

How I built $5,000 of passive income starting with $0

My intake of dividends is continuing to grow.

Read more »