Research shows the average dividend yield for ASX 300 stocks sits at around 3.5%.
This sits higher than other developed markets like the US and Canada.
However, this is steadily declining as competitive yields become increasingly difficult to find.
For retirees looking to complement their superannuation, there are several dividend options to consider right now that offer above-average yields.
It's also worth considering that the higher the yield doesn't automatically mean a better investment.
An extremely high dividend yield can be a warning sign because it may indicate that a company's share price has fallen sharply due to financial problems, making the dividend appear unusually large and potentially unsustainable.
With that in mind, here are three great dividend shares to consider right now.
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Westpac Banking Corp (ASX: WBC)
Australians have long turned to bank shares for consistent dividends.
Westpac Banking Corporation could be the top pick of the big four right now.
It has a long history of paying attractive, typically fully franked dividends supported by its leading position in Australia's banking sector and consistent profitability.
According to Commsec's recent projection, Westpac is expected to pay an annual dividend per share of $1.55 in FY27.
That represents a yield of over 4%, and around 6% including franking credits.
Amcor plc (ASX: AMC)
Amcor is a popular dividend stock because it generates reliable cash flow from its global packaging business, which supports consistent dividend payments across a range of economic conditions.
The company also has a long track record of returning capital to shareholders, making it an attractive choice for investors seeking dependable income.
It could be a great complement to retirees looking to generate passive income alongside their super because the company pays dividends quarterly.
This gives income investors a more frequent cash flow than the typical twice-yearly payment for other ASX shares.
It is currently offering a yield over 5%.
Telstra Group Ltd (ASX: TLS)
Telstra Group is another popular dividend stock for those looking to supplement their super.
It has a dominant position in Australia's telecommunications market, generating stable and recurring cash flows.
Its consistent earnings and history of paying reliable, fully franked dividends make it a favourite among income-focused investors.
According to CommSec estimates, Telstra is expected to pay dividends per share of 21 cents in FY26 and 21.5 cents in FY27.
This translates to a yield hovering around 4%.
For retirees looking for passive income, this consistent stock could be another great option.
