Telstra Corporation Ltd (ASX: TLS) is one of three ASX dividend shares offering a fully franked yield of 5% or more today
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Getting a yield of 5% or more on your cash is a rare feat these days. Term deposits? No way. You’d be lucky to get 1% with the current interest rate environment. Property? Not likely with all of the recent house price appreciation. Art? Gold? Non-fungible tokens (NFTs)? They don’t even pay a yield. That leaves ASX dividend shares. Luckily for us ASX investors, it’s not too hard to still find some decent ASX shares offering a yield of 5% or greater. Especially if you include those lovely benefits of franking credits.
So here are 3 such ASX dividend shares today
3 ASX dividend shares with yields over 5% right now
Telstra Corporation Ltd (ASX: TLS)
Telstra is a company most ASX investors would be familiar with. It’s the largest telco on the market, as well as being one of the largest ASX companies period. Telstra’s dividend history might still conjure up some painful memories for some of the longer-term investors out there. It did famously slash its annual dividend a few years ago from the old 32 cents per share to the 16 cents per share level we see today. However, that also accompanied a steep drop in the Telstra share price (it was almost $6 a share five years ago). As such, it still offers a decent starting yield for any new investors today. On current pricing, this 16 cents per share translates into a trailing dividend yield of 4.68%, which grosses-up to 6.68% with Telstra’s full franking.
Rio Tinto Limited (ASX: RIO)
Rio Tinto is one of the ASX’s largest miners. Its main commodity of choice is iron ore, which of course has had a magnificent year price wise. But Rio also mines diamonds, copper, gold and uranium. The recent run in iron ore prices has helped Rio recently break out into new all-time high territory – it hit $130 a share last month. However, Rio shares have recently pulled back, which means its trailing dividend yield has swelled for anyone looking to pick up new shares. On current pricing, Rio’s dividend is worth a yield of 5.3%, which grosses-up to a hefty 7.57% with Rio’s full franking.
JB Hi-Fi Limited (ASX: JBH)
JB Hi-Fi is not normally a company most investors associate with dividends. But this electronics giant has managed to keep its dividends at pace with its recent share price growth – JB shares are up more than 150% since early 2019. Its most recent interim dividend was paid out on 12 March and came to $1.80 per share. That’s a healthy 82% increase on the interim dividend of 99 cents that JB paid out last year. On current pricing, JB is offering a trailing dividend yield of 5.21%, which grosses-up to 7.44% with full franking.
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Returns As of 15th February 2021
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Motley Fool contributor Sebastian Bowen owns shares of Telstra Limited. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.