10 ASX Dividend Stocks Today: 10 ASX 200 Names With Yields Above 5%

The August 2026 reporting season has closed the books on another year of payouts for income investors tracking names such as Arena REIT (ASX:ARF), Fortescue Ltd (ASX:FMG) and Harvey Norman Holdings Limited (ASX:HVN), on another year of payouts, and income-focused investors are now doing the arithmetic. With payouts declared across much of the ASX 200, attention has shifted from what companies earned to what they hand back. In this rundown, "today" means prices after the close on Wednesday 23 September 2026. On that basis, ten ASX 200 names carry indicative yields above 5%, ranging from a childcare landlord near 9% to a Bunnings landlord a little above 5%. Six are property trusts paying distributions; four are companies paying fully franked dividends. Below, each gets a compact profile, ranked from the top.

Source note: dividend and distribution amounts are the latest confirmed full-year payouts from official ASX company announcements. Reference prices are from an S&P/ASX 200 component snapshot after the close on 23 September 2026. Indicative Yield = annual payout ÷ reference price (our calculation, not an ASX-published figure); cash yields exclude franking credits.

*Waypoint REIT reports on a calendar-year basis; FY2025 (year to 31 December 2025) is its latest completed full year.

Why are yields drawing attention in 2026?

Once results are out, payouts become declared figures. A yield turns a payout into a rate that can be compared across very different businesses, from an iron ore miner to a supermarket landlord. The figures in this article are our own calculation: the latest confirmed full-year payout divided by the 23 September reference price. ASX does not publish them, and they look backwards. If a share price rises tomorrow, the same payout produces a lower yield; if it falls, the yield climbs without the Business paying a cent more.

The countdown

1. Arena REIT (ASX:ARF): 8.95%

Arena owns 274 early learning centres, 10 healthcare properties and 23 development sites, with a weighted average Lease expiry (WALE) of about 17.5 years and 100% occupancy. Its FY2026 distribution of 19.25c per security, paid as four quarterly instalments of 4.8125c, was up 5.5%. In August 2026, however, tenant Edge Early Learning, about 14% of income across 31 leases, failed to pay rent and then entered voluntary administration. Arena has guided to an FY2027 distribution of at least 18.0c, below FY2026, so the 8.95% rests on a payout the trust does not currently expect to repeat.

2. HomeCo Daily Needs REIT (ASX:HDN): 7.85%

The smallest cash payer in the group at 8.60c per security, this owner of supermarket-anchored centres ranks second because of its A$1.095 reference price. FY2026 Funds From Operations (FFO) were 9.0c; FY2027 guidance is FFO of 8.8c and a flat 8.6c distribution despite higher finance costs. Gearing of 35.7% sits inside a 30–40% target range.

3. Waypoint REIT (ASX:WPR): 7.53%

Waypoint runs on a calendar financial year, so its figure is the FY2025 distribution of 16.64c per security, paid quarterly and equal to distributable earnings. Viva Energy is the major tenant across about 395 service station and convenience properties. Calendar-2026 guidance points to distributable Earnings of 17.14c, which is an earnings target rather than a declared distribution.

4. Charter Hall Long WALE REIT (ASX:CLW): 7.52%

A whisker behind Waypoint, CLW paid 25.50c per security in FY2026, exactly matching operating earnings. Its roughly 505 properties, worth about $6.1bn, span convenience retail, logistics, data centres, social infrastructure and office, with a 9.2-year WALE. FY2027 guidance holds the distribution at 25.5c, and gearing is 27.5%.

5. Harvey Norman Holdings Limited (ASX:HVN): 6.58%

The highest-yielding ordinary company here lifted fully franked FY2026 dividends to 27.5c per share (14.5c interim, 13.0c final) from 26.5c. Profit after tax and minority interests rose 2.0% to $528.46m. The final has a Record Date of 7 October and is payable on 12 November 2026.

6. Fortescue Ltd (ASX:FMG): 6.41%

Fortescue pays the largest cash amount per share on the list, A$1.08 fully franked, slightly below FY2025's A$1.10. Its policy is to distribute 50–80% of underlying net profit after tax (NPAT); the FY2026 payout was 65% of US$3.5bn, supported by record shipments of 201.3 million tonnes. The A$0.46 final is paid on 29 September 2026. Iron ore prices, Chinese steel Demand and currency movements all feed into future dividends.

7. Metcash Limited (ASX:MTS): 6.34%

The supplier to independent supermarkets including IGA, also active in liquor and hardware, paid 18.0c per share fully franked for the year to 30 April 2026. That was 73.6% of underlying NPAT of $268.8m, near its target of about 74%. Its Dividend reinvestment plan is suspended.

8. AGL Energy Limited (ASX:AGL): 6.09%

AGL paid 50c per share fully franked, including a 26c final, equal to 53.3% of underlying NPAT of $631m, which fell 2%. FY2027 profit guidance of $470m–$670m, paired with a 55–60% target payout, leaves a wide spread of possible dividend outcomes as the business transitions away from coal-fired generation.

9. Stockland (ASX:SGP): 6.00%

Stockland's 25.2c distribution was 69% of FFO of 36.9c, within its 60–80% policy. FY2027 guidance lifts FFO to 38.0–39.0c while holding the distribution at 25.2c. Gearing of 22.7% is within its 20–30% target.

10. BWP Group (ASX:BWP): 5.41%

The Bunnings Warehouse landlord raised its distribution 4.1% to 19.41c per security, slightly above FFO of 19.29c. FY2027 guidance is 20.00c. It raised about $228m through an entitlement offer in May 2026.

How durable are these payouts?

Durability hinges on the gap between earnings and payouts. CLW and Waypoint distributed exactly what they earned, leaving little buffer. Stockland, at 69% of FFO, retains a meaningful share. BWP paid slightly more than its FFO, while Metcash and AGL work to stated payout ratios. Balance sheets matter too: each trust with a disclosed gearing target sits inside it, and Fortescue ended the year with net Debt of US$0.9bn.

What could disrupt future payments?

• Tenant failure, as the Edge administration has shown for Arena.
• Iron ore price swings, which flow through Fortescue's profit to its dividend.
• Higher finance costs, flagged by HDN in its guidance.
• Profit Volatility at AGL, where the guidance range is wide.
• Consumer spending, which flows through to Harvey Norman and Metcash.

Why a higher yield isn't automatically better

A yield rises whenever a share price falls, and falling prices can reflect concerns about what comes next. Arena's position at number one rests on a payout it has already guided lower. A trailing yield also says nothing about growth: Stockland and BWP sit at the foot of this ranking, yet both have guidance pointing to higher FFO or distributions. Ranking by yield sorts names by one variable, not by quality.

What should investors monitor next?

Investors may want to check the Edge administration outcome and Arena's guidance, Fortescue's 29 September payment, Harvey Norman's 7 October record date, Waypoint's quarterly distributions and FY2026 result, and whether AGL's FY2027 profit lands near the top or bottom of its range.

Key Insights / Key Takeaways

Ten ASX 200 names cleared 5% at 23 September prices, but the ranking pairs past payouts with a single day's prices. Guidance already points lower for Arena, flat for several trusts and higher for BWP. For income investors, the countdown is a starting list for research, not a finishing line.