These 5 high-quality companies are now paying a better income than CBA shares

CBA shares have gained 25% in a year, squeezing their dividend yield.

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Commonwealth Bank of Australia (ASX: CBA) shares are popular among ASX passive income investors for their lengthy track record of generous dividend payouts.

The S&P/ASX 200 Index (ASX: XJO) bank stock has paid two fully franked dividends per year every year for more than a decade. Including the pandemic addled year of 2020.

CBA's latest interim dividend was up 2.4% from the prior year, at $2.15 per share. Eligible shareholders can expect to see that payout land in their bank accounts this Thursday, 28 March.

CBA's final dividend of $2.40 per share, paid on 28 September, was also up 14.3% year on year. That brings the full-year payout to $4.55 per share.

While that's a healthy payout, the CBA share price has gained 25% over the 12 months.

Now, that's also obviously a good thing.

However, it means the ASX 200 bank stock currently trades on a fully franked trailing yield of 3.8%.

So, if it's passive income you're after, here are five high-quality stocks trading on a higher yield than CBA shares.

Five ASX 200 stocks offering better income than CBA shares

Before the big reveal, please note that the yields we're looking at here are trailing yields. Future yields may be higher or lower depending on a range of company-specific and macroeconomic factors.

With that said, the first ASX 200 share paying a better income than CBA shares is rival big four bank stock Australia and New Zealand Banking Group Ltd (ASX: ANZ).

ANZ paid a fully franked interim dividend of 81 cents per share on 3 July and a partly franked final dividend of 94 cents per share on 22 December.

That equates to a full-year payout of $1.75 per share. At the current share price of $29.14, ANZ trades on a partly franked trailing yield of 6.0%.

ANZ will announce its upcoming interim dividend on 7 May when the bank reports its half-year results.

The second high-quality ASX 200 company paying a higher dividend yield than CBA shares is oil and gas stock Woodside Energy Group Ltd (ASX: WDS).

Sliding profits hit by falling energy prices have seen Woodside's dividends come down to the late 2022 and early 2023 levels. But the energy giant still paid out $2.16 in fully franked dividends over the past year.

At the current Woodside share price of $30.62, the stock trades on a fully franked trailing yield of 7.1%.

The third quality company paying a better passive income than CBA shares is ASX 200 retail stock Harvey Norman Holdings Ltd (ASX: HVN).

With Harvey Norman's share price up 35% over 12 months and its dividends down from last year, the retail stock isn't yielding what it did last year.

Still, the retailer delivered 22 cents per share in dividends over the 12 months. At the current Harvey Norman share price of $4.97, this company trades on a fully franked yield of 4.4%.

Two more high-quality ASX 200 dividend shares

Rounding out the list, two other high-quality ASX companies paying higher income than CBA shares are ASX 200 mining stock Fortescue Metals Group Ltd (ASX: FMG) and ASX 200 coal share New Hope Corp Ltd (ASX: NHC).

Fortescue paid a final dividend of $1.00 per share on 28 September. Eligible investors can expect to receive the $1.08 per share interim dividend tomorrow, 27 March.

That comes out to a full-year passive income payout of $2.08 per share. At the current Fortescue share price of $25.66, this equates to a fully franked trailing yield of 8.1%.

As for New Hope, despite sizeable reductions in the dividend payouts amid a big drop in coal prices, the miner still paid a final dividend of 30 cents per share on 7 November.

Management declared an interim dividend of 17 cents per share, which will be paid on 1 May. Passive income investors seeking to bank that dividend will need to own shares at market close on 12 April.

New Hope's full-year payout will then come to 47 cents per share.

At the current New Hope share price of $4.40, this quality ASX company trades on a fully franked yield (partly trailing, partly pending) of 10.7%.

CBA shares, remember, trade on a yield of 3.8%.

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. 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 positions in and has recommended Harvey Norman. 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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