One of the benefits of higher interest rates is better risk-free returns on savings at the bank.
Term deposits are still offering 5%-plus risk-free yields, so investors may be wondering which ASX 200 shares will be able to match this or better it with their dividend payouts in 2025.
In recent years, many investors have relied upon the ASX 200 mining and banking stocks for strong dividend income.
But it's unlikely the banks and miners will wow us with their dividends this year, according to expert forecasts.
A volatile iron ore price and weaker Chinese demand will likely lower dividend yields from the ASX 200 miners.
Of the six large-cap miners, only Fortescue Ltd (ASX: FMG) is tipped to pay more than a 5% dividend yield.
Exceptional share price growth for ASX 200 bank shares means dividend yields are likely to be lower this year.
Of the seven ASX 200 banks, only ANZ Group Holdings Ltd (ASX: ANZ) and Bank of Queensland Ltd (ASX: BOQ) are expected to pay a 5%-plus dividend yield.
Where can investors find 5%-plus dividend yields?
In the weeks before the first earnings season of 2025, which got underway this week, we have been researching analysts' predictions for ASX dividends this year.
Here are some examples of ASX 200 shares tipped to pay a 5%-plus dividend yield in 2025.
We have calculated these yields based on consensus analysts' dividend forecasts published on the CommSec trading platform, and share prices at the time of writing.
18 ASX 200 shares expected to pay 5%-plus dividend yields
| ASX 200 share | Sector | Forecast 2025 dividend | Dividend yield |
| Spark New Zealand Ltd (ASX: SPK) | Communications | 23.3 cents | 8.96% |
| Chorus Ltd (ASX: CNU) | Communications | 53.5 cents | 6.88% |
| Nine Entertainment Co Holdings Ltd (ASX: NEC) | Communications | 8.5 cents | 6.54% |
| APA Group (ASX: APA) | Utilities | 57 cents | 8.41% |
| Genesis Energy Ltd (ASX: GNE) | Utilities | 13.4 cents | 6.5% |
| Fortescue Ltd (ASX: FMG) | Materials | $1.128 | 5.73% |
| Harvey Norman Holdings Ltd (ASX: HVN) | Consumer Discretionary | 28 cents | 5.24% |
| Woodside Energy Group Ltd (ASX: WDS) | Energy | $1.984 | 8.04% |
| New Hope Corporation Ltd (ASX: NHC) | Energy | 31.3 cents | 6.63% |
| Viva Energy Group Ltd (ASX: VEA) | Energy | 13.3 cents | 5.43% |
| GPT Group (ASX: GPT) | REIT | 26 cents | 5.69% |
| Vicinity Centres (ASX: VCX) | REIT | 12.4 cents | 5.64% |
| ANZ Group Holdings Ltd (ASX: ANZ) | Financials | $1.70 | 5.46% |
| Bank of Queensland Ltd (ASX: BOQ) | Financials | 35 cents | 5.04% |
| Inghams Group Ltd (ASX: ING) | Consumer Staples | 20.5 cents | 6.35% |
| Metcash Ltd (ASX: MTS) | Consumer Staples | 17 cents | 5.41% |
| Endeavour Group Ltd (ASX: EDV) | Consumer Staples | 21.8 cents | 5.22% |
| Graincorp Ltd (ASX: GNC) | Consumer Staples | 38.5 cents | 5.22% |
Which sectors paid the best ASX dividends last year?
Last year, the smallest of the 11 market sectors delivered the biggest dividend returns.
The ASX 200 utilities sector, comprised of just 22 companies, delivered total returns of 17.48%. Dividends accounted for 7.05% of those returns.
The second-biggest sector for dividends was the ASX 200 financials sector. Total returns were 33.72%, with dividends making up 5.5% of those returns.
