Even though the S&P/ASX 200 Index (ASX: XJO) has come off the record highs we saw earlier this year, the yields on many ASX 200 dividend stocks remain quite low by historical standards. Popular passive income stocks like Telstra Group Ltd (ASX: TLS), Wesfarmers Ltd (ASX: WES), and Woolworths Group Ltd (ASX: WOW) remain under 3% right now.
With interest rates rising and safe investments like term deposits now offering interest rates above 5%, many income investors are simply looking for larger yields. Fortunately, there are a few ASX 200 dividend shares that still carry yields of 4% or greater, many with full franking credits on the table too. Today, let's go over three of them.
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3 ASX 200 dividend stocks with yields greater than 4% today
Woodside Energy Group Ltd (ASX: WDS)
A huge run-up over the past two months or so hasn't brought ASX 200 energy stock Woodside's dividend completely down to earth just yet. At recent pricing, Woodside shares were trading on a trailing dividend yield of 5.1%. All ASX dividend shares' yields should be taken with a grain of salt, and energy shares particularly so.
Despite this, if oil and gas prices remain elevated, there's a strong possibility that this ASX 200 share will continue to dole out fat, fully-franked dividends for a while yet.
Metcash Ltd (ASX: MTS)
IGA distributor Metcash is next up. This consumer staples company, and ASX 200 dividend stock, has had a lacklustre few years on the ASX, with its shares down almost 15% from where they were five years ago at the time of writing. However, this unimpressive stock price performance has helped push Metcash's yield quite high.
At the time of writing, this stock is sitting on a trailing yield of 6.05%, replete with full franking. Some brokers think Metcash is still in for a difficult time over 2026 and beyond. But the company would have to cut its dividend dramatically for it to lose its hefty income potential that its current yield suggests.
Westpac Banking Corp (ASX: WBC)
Finally, we can't get through a dividend share list without including an ASX 200 bank stock. Westpac is that bank share today. Unlike its peer, Commonwealth Bank of Australia (ASX: CBA), Westpac still offers a bank-like yield too. At recent pricing, Westpac was sitting on a trailing dividend yield of 4.34%. Again, Westpac usually attaches full franking credits to its payouts as well.
Investors may draw further hope from how Westpac's last two dividend payments have been larger than the two that preceded them. Let's see if the next two follow the same pattern.
