2 ASX dividend shares with yields over 4% right now

There are still high-yielding stocks on the market.

Although the S&P/ASX 200 Index (ASX: XJO) isn't quite at the all-time highs of over 9,200 points we were seeing earlier this year, Australian shares are arguably still relatively elevated. Whilst this has been welcome for long-term investors, it does make it difficult to find ASX dividend shares trading at healthy dividend yields today.

Just take a look at the most popular dividend stocks on the ASX. Whether it's Telstra Group Ltd (ASX: TLS), Woolworths Group Ltd (ASX: WOW), Commonwealth Bank of Australia (ASX: CBA) or Wesfarmers Ltd (ASX: WES), none of these blue-chip ASX dividend stocks is currently offering yields over 4%. That would have been almost unthinkable a few years ago, but here we are.

However, all is not lost. There are still a few ASX 200 dividend shares offering yields of over 4% right now. Let's discuss two of them.

Person handling Australian dollar notes, symbolising dividends.

Image source: Getty Images

Two ASX dividend shares offering yields over 4% today

Thankfully, not all of the ASX bank stocks have followed CBA. First up, we have CommBank's big four stablemate Westpac Banking Corp (ASX: WBC). Like the rest of its peers in the banking space, Westpac has long enjoyed a reputation as a solid income provider, thanks to the leading role in the Australian financial landscape that it has occupied for decades. Luckily for income investors, it still offers a generous dividend yield above 4%. 

At recent pricing, this ASX dividend share was trading on a yield of 4.3%. That comes with full franking credits attached, too. Sure, you might be able to secure an even higher yield from one of Westpac's term deposits right now. But if you are after a fully-franked yield above 4%, this bank is well worth a look.

Next up, let's check out Transurban Group (ASX: TCL). This toll-road operator is also a regular guest in your typical ASX income portfolio, thanks to its defensive earnings base and solid track record of dividend payouts. There's a lot to like about Transurban as a dividend investment. It has generous government contracts that allow it to raise many of its tolls by at least the rate of inflation every quarter. Road traffic is also somewhat inelastic, giving Transurban protection against recessions and other economic shocks.

At the time of writing, Transurban shares are trading at just over $14.50 each. That gives this ASX dividend share a trailing yield of 4.75%. Keep in mind that this company rarely attaches meaningful levels of franking credits to its dividend, though.

Motley Fool contributor Sebastian Bowen has positions in Wesfarmers. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Transurban Group and Wesfarmers. The Motley Fool Australia has positions in and has recommended Telstra Group and Transurban Group. The Motley Fool Australia has recommended Wesfarmers. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

Person holding Australian dollar notes, symbolising dividends.
Dividend Investing

75% of my dividends come from these 4 ASX shares (and I want to buy more)

I rate these stocks as top options for dividend income.

Read more »

Numerous Australian dollar notes laid out.
Dividend Investing

Aurizon Holdings vs Atlas Arteria: Which ASX 200 high-yield share wins for reliable passive income?

Aurizon and Atlas Arteria both offer yields above 6%, but which is the safer option?

Read more »

Smiling woman with her head and arm on a desk holding $100 notes, symbolising dividends.
Dividend Investing

Vanguard ETFs will pay dividends today. Here's how much

Vanguard manages some of the most popular ASX ETFs including VAS, VHY, VGS, and VEQ.

Read more »

Man holding Australian dollar notes, symbolising dividends.
Dividend Investing

2 ASX dividend shares with 40% to 120% upside

A leading broker sees big yields and bigger returns on offer here.

Read more »

Woman holding $50 and $20 notes.
Dividend Investing

Dividend payday for ASX ETF investors! Here is how much you'll get

Own ASX A200, DHHF, or other Betashares ETFs? You will receive dividends today.

Read more »

A wallet with an Australian one hundred dollar note poking out sits on top of an electricity meter with the numbers rapidly going up.
Dividend Investing

How many Origin Energy shares do I need for $1,000 per month of passive income in FY27?

Find out what it takes to earn $12,000 every year in passive income.

Read more »

Woman with headphones on relaxing and looking at her phone happily.
Dividend Investing

Why this ASX dividend share is a retiree's dream for 2027

This business is a strong pick for dividends, in my view.

Read more »

Man reading his emails on a laptop while relaxing on a beach.
Dividend Investing

WAM Leaders vs Growthpoint Properties: Which 7%+ yield stock looks better for passive income?

Chasing passive income? Here’s which high-yield stock I think looks better.

Read more »