Top 3 High-Yield Dividend Stocks on the ASX for Long-Term Investors

Team Veye | 02-Dec-2023 high yield dividend stocks

Most conservative investors prefer consistent dividends because they refrain from investing in high-risk companies. Equity investments are risky and highly volatile, which is why many conservative investors prefer to invest in less risky, consistent, high-ASX dividend-paying stocks. To identify the top dividend-paying stocks in Australia, investors should examine factors that signal long-term income potential. Investors generally overhaul companies with consistent dividend growth, reflecting management’s confidence and commitment to shareholders. Let's keep an eye on some of the most promising ASX high-yield dividend-paying stocks, which are as follows:

Note: Market cap and share price are mentioned below as of 1 December 2023.

#1. Yancoal Australia Limited (ASX: YAL)

Market capitalization: $6.55 billion. (01, Dec 2023)
Sector: Energy.
Current market price: $4.96.

Yancoal Australia Limited (ASX: YAL) is the largest coal-focused company in the ASX and a producer concentrating on developing and operating coal projects in Australia. The company has an annual dividend yield of 21.92% as of 1 Dec 2023.
In 2023, total Australian saleable thermal coal production will be approximately 251 million metric tons. The company’s equity-attributable thermal coal production is about 13% of the national total.

According to the International Energy Agency, global coal demand reached an all-time high, exceeding 8.3 billion tonnes.

Zimplats Holdings Limited (ASX: ZIM)

Market capitalization: $2.24 billion.  (01, Dec 2023)
Sector: Basic Materials
Current market price: $20.81.

Zimplats Holdings Limited (ASX: ZIM) is a leading mining company focused on the exploration, development, and production of platinum group metals in Zimbabwe. The company has an annual dividend yield of 13.43% as of 1 December 2023.
During FY2023, the company invested US$304.3 million in capital projects, an increase of 13% from US$270.3 million in FY2022. The company, with its PE (TTM) of 7.36x and ROE of approximately 11%, offers an attractive valuation for the shareholders.

Woodside Energy Group Limited (ASX: WDS),

Market capitalization: $58.56 billion.  (01, Dec 2023)
Sector: Energy.
Current market price: $30.84.

Woodside Energy Group Limited (ASX: WDS), a top Australian energy company, focuses on hydrocarbon resource exploration and development. As a major regional independent oil and gas player, the company has experienced strong dividend growth, with an annual dividend yield of 10.95% in 2023 as of December 1 Dec 2023.

Woodside Energy Group's positive dividend performance over the past five years reflects the company's commitment to delivering value to its shareholders. For the half-year period that ended on 30 June 2023, the company declared an interim dividend of 80 US cents per share. This dividend represents approximately 80% of the underlying NPAT for that period. An 80% payout ratio is a substantial distribution of earnings to shareholders.

Frequently Asked Questions (F.A.Q)

Which of the ASX stocks pays the highest dividends?

Yancoal Australia Limited, the largest coal-focused company on the ASX, provided an annual dividend yield of 21.92% as of December 1, 2023. Zimplats Holdings Limited has an annual dividend yield of 13.43% as of 1 December 2023.

What is the most preferable dividend or capital gain?

The investment should grow at a rate higher than the inflation rate. Therefore, good fundamental companies pay good dividends and also may provide a better return on equity. Small companies sometimes perform well during rallies, providing a huge gain on share price appreciation.

What are the best dividend stocks to own?

Some of the best and highest dividend-paying stocks on the ASX are as follows: Yancoal Australia Limited (ASX: YAL) has an annual dividend yield of 21.92%. Zimplats Holdings Limited (ASX: ZIM) has an annual dividend yield of 13.43%. Woodside Energy Group Limited (ASX: WDS) has experienced strong dividend growth, with an annual dividend yield of 10.95% in 2023.

What is a stable dividend policy?

A business with a stable dividend policy pays out a stable dividend every given period, irrespective of any given situation in the market. The exact amount of dividends that are paid out depends on the long-term, persistent earnings of the company. 


Veye Pty Ltd(ABN 58 623 120 865), holds (AFSL No. 523157 ). All information provided by Veye Pty Ltd through its website, reports, and newsletters is general financial product advice only and should not be considered a personal recommendation to buy or sell any asset or security. Before acting on the advice, you should consider whether it’s appropriate to you, in light of your objectives, financial situation, or needs. You should look at the Product Disclosure Statement or other offer document associated with the security or product before making a decision on acquiring the security or product. You can refer to our Terms & Conditions and Financial Services Guide for more information. Any recommendation contained herein may not be suitable for all investors as it does not take into account your personal financial needs or investment objectives. Although Veye takes the utmost care to ensure accuracy of the content and that the information is gathered and processed from reliable resources, we strongly recommend that you seek professional advice from your financial advisor or stockbroker before making any investment decision based on any of our recommendations. All the information we share represents our views on the date of publishing as stocks are subject to real time changes and therefore may change without notice. Please remember that investments can go up and down and past performance is not necessarily indicative of future returns. We request our readers not to interpret our reports as direct recommendations. To the extent permitted by law, Veye Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss, or data corruption) (as mentioned on the website, and confirms that the employees and/or associates of Veye Pty Ltd do not hold positions in any of the financial products covered on the website on the date of publishing this report. Veye Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services.

veye logo

Grab Your Free Report On 5 ASX Dividend Stocks To Buy In 2024