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How do Pilbara Minerals, Fortescue and BHP shares compare on FY24 dividend forecasts?

Many ASX 200 mining shares have a history of generous dividends. Will they pay big again this year?

Posted by
Bronwyn Allen
Author bio Bronwyn has 28 years of experience in journalism, copywriting, and media relations. She began her career as a reporter with News Corporation in Sydney in 1997. She later worked for two real estate corporations in communications and PR roles, then started her own freelance copywriting and publicity business. A keen shares investor, Bronwyn joined the Motley Fool Australia team as a copy editor and writer in June 2021. Areas of expertise ASX shares and ETFs News writing Macroeconomic trends Real estate Education Diploma in Journalism, Macleay College Social media LinkedIn Favorite investment quote "Don't look for the needle in the haystack. Just buy the haystack." — John C. Bogle, Vanguard founder and pioneer of index investing for ordinary investors
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ASX 200 mining shares are among the most popular stocks for investors seeking dividends today.

Major miners like Fortescue Ltd (ASX: FMG) and BHP Group Ltd (ASX: BHP) are known for paying generous passive income, especially when commodity prices are high.

ASX lithium share Pilbara Minerals Ltd (ASX: PLS) is a newbie among dividend-paying mining shares, having paid its maiden dividend in FY23.

So, how do things look for FY24?

Will this trio of ASX 200 mining shares pay big dividends again?

And will they pay more in FY24 than they did last year?

Let's see what the experts predict.

A mature aged man with grey hair and glasses holds a fan of Australian hundred dollar bills up against his mouth and looks skywards with his eyes as though he is thinking what he might do with the cash.

Image source: Getty Images

BHP dividend will be lower in FY24

In FY23, BHP shares paid $2.6143 in annual dividends, fully franked.

The ASX 200's biggest mining share is swapping hands for $47.96 today, up 0.2% so far. Based on this share price, BHP has a trailing dividend yield of 5.45%.

What about the year ahead?

The consensus forecast published on CommSec is for BHP shares to pay an annual dividend of $2.24 in FY24. Based on the current BHP share price, this equates to a yield of 4.67%.

Fortescue dividend a tad higher in FY24

Fortescue shares delivered an annual dividend of $1.75 plus full franking credits in FY23.

Today, Fortescue shares are changing hands for $27.26, down 1.11% for the day. On that basis, Fortescue shares have a trailing dividend yield of 6.42%.

The consensus forecast is for the ASX 200 iron ore pure-play stock to pay $1.77 per share in dividends in FY24. Based on the current Fortescue share price, this equates to a yield of 6.49%.

Pilbara Minerals dividend will halve in FY24

Pilbara Minerals shares paid a maiden dividend of 11 cents in March 2023 and a final dividend of 14 cents in September. That's a total annual dividend of 25 cents fully franked in FY23.

Pilbara Minerals shares are trading for $3.75 on Thursday, up 1.49% for the day. That means Pilbara Minerals shares have a trailing dividend yield of 2.93%.

The consensus forecast is for Pilbara Minerals to pay 5 cents per share in dividends in FY24. Based on the current Pilbara Minerals share price, this equates to a yield of 1.33%.

Motley Fool contributor Bronwyn Allen has positions in BHP Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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