Top 10 dividend stocks on ASX
Dividend Yield: 16.21% | Payout Ratio: 65%
Helia, formerly Genworth, specialises in lenders mortgage insurance and has emerged as a quiet dividend machine. As property prices in Australia begin stabilising, Helia has seen consistent premium inflows and strong earnings. The company declared a final dividend of 17 cents per share for FY24 and supported it with a 15-cent special dividend. Its balance sheet strength is evident from a planned 10% share buyback, showcasing management’s confidence. With a yield north of 16% and regular dividend track record, Helia offers one of the highest payouts in the financial sector without chasing excessive risk.
2: Pepper Money (ASX: PPM)
Dividend Yield: 6.57% | Payout Ratio: 2%
Pepper Money is not your typical bank. As a fast-growing non-bank lender, it’s finding strength in niches like asset finance and commercial loans. In Q1 2025, it continued to grow its book and improve funding diversity. What makes it especially appealing to dividend investors is the combination of a 6.57% yield and an exceptionally high cover ratio. It paid a 6.1 cent dividend for FY24 along with a special dividend of 5.3 cents. Despite a low payout ratio, the company’s consistent distributions and robust earnings base make it a compelling mid-cap dividend pick.
3: GTN Ltd (ASX: GTN)
Dividend Yield: 7.06% | Payout Ratio: 100% of NPAT
GTN might fly under the radar, but it remains a steady dividend payer from within the media sector. Known for its traffic broadcast and radio advertising model, GTN reported stronger ad revenues recently thanks to multi-year renewals with key commercial stations. With a yield of nearly 7%, the company has a clear policy of distributing 100% of its NPAT as dividends. For investors seeking income from a non-financial source, GTN offers resilience and attractive cash flow returns.
4: MotorCycle Holdings (ASX: MTO)
Dividend Yield: 4.90% | Payout Ratio: 17%
MotorCycle Holdings offers more than just bikes it offers yield stability. As one of the largest motorcycle retailers in Australia, the company benefited from rising demand in off-road and leisure segments. It also completed the acquisition of Mojo Motorcycles, which helped lift earnings. A dividend of 14 cents per share was paid for FY24, showing consistency in shareholder returns.
5: Yancoal Australia (ASX: YAL)
Dividend Yield: 8.49% | Payout Ratio: 90%
Yancoal remains one of the top dividend stocks in the energy sector. The company declared a 70-cent dividend for FY24, fully franked. Even with lower coal prices compared to 2022, Yancoal continues to generate strong cash flows from its thermal coal assets. Its payout ratio remains high, and dividend history in recent years has been solid. For income-focused investors who don’t mind exposure to resources, Yancoal continues to be a high-yield pick with a proven distribution track record.
6: Eagers Automotive (ASX: APE)
Dividend Yield: 3.82% | Payout Ratio: 65%
Eagers is a leader in Australia’s auto retail space and has been quietly rewarding investors through steady dividends. The company announced a final dividend of 50 cents per share in April 2025, bringing total FY24 dividends to 74 cents a slight increase over the previous year. It maintains a payout ratio around 60–65%, balancing reinvestment and returns. Even with cost pressures across the auto industry, Eagers has managed to maintain profitability and consistent dividend delivery, making it a solid income option.
7: IPH Limited (ASX: IPH)
Dividend Yield: 7.18% | Payout Ratio: 81%
IPH is Australia’s largest IP services group, and while its sector may not be glamorous, its dividend history is steady. The company declared a 16.5 cent final dividend for FY24, consistent with past years. Its payout ratio of 81% reflects a policy of distributing the bulk of its earnings, while also supporting share buybacks and reinvestment. IPH has also maintained a Dividend Reinvestment Plan, which shows long-term alignment with shareholders. For income seekers looking beyond banks and miners, IPH offers a reliable yield backed by recurring legal and patent revenues.
8: McMillan Shakespeare (ASX: MMS)
Dividend Yield: 8.64% | Payout Ratio: 100% (Normalised UNPATA)
McMillan Shakespeare, a leader in salary packaging and novated leases, continues to drive dependable returns for investors. For 1HFY25, it declared a fully franked interim dividend of 71 cents per share, maintaining a 100% payout ratio on normalised UNPATA. With high-margin businesses, 61.7% return on capital, and 52% of revenue recurring, MMS blends earnings quality with capital discipline. The “Simply Stronger” program is improving tech enablement and customer satisfaction while laying ground for operating leverage. Despite modest revenue growth, dividends remain resilient and fully backed by strong cash flows, making MMS a compelling dividend player with a high-quality, service-driven moat.
9: GR Engineering Services (ASX: GNG)
Dividend Yield: 8.0% | Payout Ratio: 85% (Est.)
GR Engineering is one of the few mining services companies that delivers both strong growth and generous dividends. The company declared a fully franked interim dividend of 10 cents per share for 1HFY25 and is maintaining its dividend reinvestment plan (DRP), providing investors with added flexibility. Despite sector cyclicality, GNG’s balance sheet remains solid, and cash flows continue to support its high payout policy. The introduction of DRP hints at long-term shareholder alignment. For income-seeking investors wanting exposure to mining services without the volatility of resources, GNG remains an under-the-radar gem in the industrials sector.
10: IVE Group (ASX: IGL)
Dividend Yield: 8.43% | Payout Ratio: 65% (Trailing Average)
IVE Group, Australia’s largest integrated marketing solutions company, declared a final dividend of 8.5 cents per share for FY25, maintaining its full-year payout at 18 cents. Supported by strong free cash flow and a conservative balance sheet (net debt well below 1.5x EBITDA), IVE balances reinvestment with returns. The company is executing an on-market buyback of up to $10 million while funding growth in packaging, 3PL, and eCommerce. With EPS guidance upgraded to $52 million and strategic diversification across high-growth adjacencies, IVE is cementing itself as a consistent, high-yield player in the evolving marketing landscape.
Closing Thought
From Helia’s fat double-digit yield to GR Engineering’s under-the-radar payout power, these 10 companies show that income doesn’t have to come at the cost of quality. Whether it’s a media player like GTN, a motorcycle retailer like MTO, or steady financials like IPH and Pepper Money, each pick offers a different path to dependable dividends.
In 2025, yield is more than a number it’s a signal of confidence, capital discipline, and business durability. And with inflation pressures, rate volatility, and tighter growth conditions, the market is finally rewarding companies that know how to pay and keep paying.
For investors looking to build a dividend backbone for their ASX portfolio, this group isn’t just delivering yield they’re delivering reliability.
FAQ About Top dividend stocks on ASX
Q:1 What are the best dividend stocks on the ASX?
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Helia (ASX: HLI)
Dividend Yield: 16.21% | Payout Ratio: 65%
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Pepper Money (ASX: PPM)
Dividend Yield: 6.57% | Payout Ratio: 2%
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GTN Ltd (ASX: GTN)
Dividend Yield: 7.06% | Payout Ratio: 100% of NPAT
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MotorCycle Holdings (ASX: MTO)
Dividend Yield: 4.90% | Payout Ratio: 17%
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Yancoal Australia (ASX: YAL)
Dividend Yield: 8.49% | Payout Ratio: 90%
Q:2 What qualifies a stock as a “dividend stock” on the ASX?
Any ASX-listed company that regularly pays dividends from profits, typically with a consistent payout track record and strongearnings, is considered a dividend stock.
Q:3 Which sectors dominate ASX dividend payouts?
The ASX’s top dividend-paying sectors include banking, mining, industrials, and infrastructure. These sectors typically generate strong cash flows, enabling consistent and often high dividend
distributions to shareholders.
Q:4 How frequently do ASX dividend stocks pay?
Most pay twice a year interim and final. Some may also offerspecial dividends or quarterly payouts, depending on earnings and cash position.
Q:5 What yields are considered attractive on the ASX?
A yield in the 4%-6% range is typically seen as healthy sustainable and backed by earnings. Yields above 7% draw attention but warrant caution, as they may reflect cyclical highs or weak share price support.
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