Owning ANZ Group Holdings Ltd (ASX: ANZ) shares typically means receiving a solid dividend each year, with a sizeable dividend yield.
We're going to see what analysts are expecting from the ASX bank share in the next couple of years and consider how attractive those payments could be in yield terms.
Of course, there's more to considering a bank than just its dividend potential. But, the passive income normally plays an important part in the overall returns.
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FY26
The ASX bank share recently announced its FY26 half-year result and now analysts have a good view on what the financials (and dividend) could look like over the rest of the 2026 financial year.
Based on the projection on Commsec, owners of ANZ shares are forecast to see an annual dividend per share of $1.68 in FY26.
At the current ANZ share price, that forecast translates into a dividend yield of 4.7% excluding franking credits. With franking credits, it translates into a grossed-up dividend yield of approximately 6%, at the time of writing.
FY27
Owners of ANZ shares may see another increase in the annual dividend per share in the 2027 financial year.
According to the forecast on Commsec, owners of ANZ shares are expected to receive a larger annual payout per share of $1.72 in FY27.
At the current ANZ share price, that works out to be a dividend yield of 4.8% excluding franking credits or 6.1% including franking credits.
Latest dividend payment
In the FY26 half-year result, the bank decided to maintain its dividend per share at 83 cents.
This dividend payment came with the ASX bank share delivering underlying cash profit growth of 14%, while underlying statutory net profit increased 9%.
Despite its underlying loan growth (of 1%), and the current uncertainty in the Middle East and flow on effects of that for inflation and interest rates, ANZ's provision charge decreased by 7% to $274 million.
If ANZ is able to continue growing its earnings per share (EPS), then it's very likely the business will be able to afford larger dividend payments for shareholders.
According to the forecasts on Commsec, ANZ's EPS is projected to rise to $2.54 in FY26 and then increase again to $2.63 in FY27. That means it's currently valued at 14x FY26's estimated earnings.
Commsec's collation of analyst recommendations on the business suggest there are currently six buy ratings, six hold ratings and four sell ratings on the ASX bank share. Therefore, the average rating on the bank is a hold, though slightly leaning more positive than negative.
