The average dividend yield on the Australian share market is traditionally around 4%.
But income investors don't need to settle for that. Not when there are high-yield options out there.
For example, three shares that brokers are bullish on and expect to provide above-average yields in the near term are listed below. Here's what they are recommending:
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Charter Hall Retail REIT (ASX: CQR)
The first ASX dividend share that could be a buy in March is the Charter Hall Retail REIT.
It owns a diversified portfolio of convenience-based retail centres anchored by supermarkets, service stations, and essential services. These tend to be highly defensive, as shoppers continue to spend on groceries and everyday necessities regardless of economic conditions.
Together with long lease terms and high-quality tenants, Charter Hall Retail has good visibility over rental income. This is supportive of consistent distributions to unitholders.
The team at Citi is positive on the company and is expecting some big dividend yields in the near term.
The broker has pencilled in dividends per share of 25.5 cents in FY 2026 and then 26 cents in FY 2027. Based on its current share price of $3.99, this would mean dividend yields of 6.4% and 6.5%, respectively.
Citi has a buy rating and $4.50 price target on its shares.
Dexus Convenience Retail REIT (ASX: DXC)
Another ASX dividend share that could be a buy this month according to analysts is Dexus Convenience Retail REIT.
It owns a nationwide portfolio of service stations and convenience retail sites that are leased to high-quality tenants under long-term, inflation-linked agreements. These leases provide predictable cash flows, which is exactly what income-focused investors typically look for.
Bell Potter is bullish on the REIT. It has a buy rating and $3.25 price target on its shares.
As for income, it expects dividends of 20.9 cents per share in FY 2026 and 21.6 cents per share in FY 2027. Based on its current share price of $2.74, that equates to dividend yields of 7.6% and 7.9%, respectively.
Harvey Norman Holdings Ltd (ASX: HVN)
A third ASX dividend share to buy in March could be Harvey Norman.
In addition to its core electronics and furniture operations, this retail giant owns a substantial property portfolio. This adds another layer of income stability and has supported generous dividend payments over time.
Macquarie remains positive on the retailer. It believes the company is positioned to pay fully franked dividends per share of 27.8 cents in FY 2026 and 31.2 cents in FY 2027. Based on its current share price of $5.51, this represents dividend yields of 5% and 5.65%, respectively.
The broker has a buy rating and $6.60 price target on its shares.
