ASX 200 Dividend Yield List: 10 Income Stocks to Watch in 2026

Reporting season has delivered its verdicts, but the income story of 2026 is not finished yet for investors in names such as Fortescue Ltd (ASX:FMG), Arena REIT (ASX:ARF) and AGL Energy Limited (ASX:AGL)., but the income story of 2026 is not finished yet. In the coming weeks, cash from some of the ASX 200's higher-yielding names will reach investors, one childcare landlord will learn more about a tenant in administration, and an energy major will work towards a profit range wide enough to move its next dividend. That makes a Yield list more useful as a calendar than as a scoreboard.

The ten stocks and property trusts below each carry an indicative yield above 5%, calculated from their latest confirmed full-year payout and prices after the close on Wednesday 23 September 2026. Each also comes with a date, decision or risk worth tracking into 2027.

Here is the list, ranked by indicative yield:

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 dividend yields attracting attention in 2026?

The full-year numbers are fresh. Most of these ten reported between June and August 2026, so the payouts in the table are confirmed announcements, not estimates. They are also history. The yield percentages are our own calculation, dividing each payout by the reference price, and they shift whenever the share price does. Guidance for the year ahead is a third, separate measure, and for several names here it points somewhere different.

What to watch: the ten names in calendar order

Fortescue Ltd (ASX:FMG): final dividend paid 29 September

Fortescue's final dividend of A$0.46 is due on 29 September 2026, completing an FY2026 total of A$1.08 fully franked after an A$0.62 interim, slightly below FY2025's A$1.10. At A$16.85 that is an indicative Dividend Yield of 6.41%. The miner pays 50–80% of underlying net profit after tax (NPAT); FY2026's payout was 65% of underlying NPAT of US$3.5bn. After payday, watch iron ore prices, Chinese steel Demand and the Australian dollar, because Fortescue reports in US dollars but pays shareholders in Australian dollars.

Harvey Norman Holdings Limited (ASX:HVN): Record Date 7 October, payment 12 November

Harvey Norman's 13.0c final dividend has a record date of 7 October 2026 and will be paid on 12 November 2026. With the 14.5c interim, FY2026 totals 27.5c fully franked, up from 26.5c, for a 6.58% indicative yield. Its reported profit after tax and minority interests reached $528.46m, 2.0% higher than a year earlier. With franchising, property and overseas retail in the mix, consumer spending is the main variable.

Arena REIT (ASX:ARF): the Edge administration

Arena heads the list at 8.95%, but that figure rests on FY2026's 19.25c per security, paid as four quarterly distributions of 4.8125c. In August 2026, tenant Edge Early Learning, representing about 14% of income across 31 leases, failed to pay rent and entered voluntary administration. Arena has guided to an FY2027 distribution of at least 18.0c, assuming no Edge rent from 1 August 2026, so the trailing yield reflects a payout the trust does not currently expect to repeat. How the administration resolves is the key item for securityholders.

Waypoint REIT (ASX:WPR): quarterly cash and the calendar-2026 result

Waypoint's financial year is the calendar year, so its 7.53% indicative yield uses the FY2025 total of 16.64c, paid as 4.12c, 4.12c, 4.20c and 4.20c. The service station landlord released its 1H26 result on 27 August 2026; its calendar-2026 guidance of 17.14c per security is for distributable earnings, not distributions. The remaining quarterly distributions and the FY2026 result will show how much flows through, with Viva Energy the major tenant.

AGL Energy Limited (ASX:AGL): where FY2027 profit lands

AGL paid 50c fully franked for FY2026, including a 26c final, a 6.09% yield at A$8.21. Underlying NPAT slipped 2% to $631m. FY2027 guidance is for underlying NPAT of $470m–$670m and a target Payout Ratio of 55–60%, expected fully franked. The low end sits well below FY2026's profit, so the next dividends depend on where the result finishes.

HomeCo Daily Needs REIT (ASX:HDN): holding the line

HDN has guided to an FY2027 distribution of 8.6c, level with FY2026's 8.60c (7.85% indicative), even as FFO is expected to ease from 9.0c to 8.8c on higher finance costs. Gearing is 35.7%, inside its 30–40% target.

Charter Hall Long WALE REIT (ASX:CLW): steady guidance

CLW's 25.5c distribution matched operating earnings, and FY2027 guidance repeats 25.5c. A WALE of 9.2 years and gearing of 27.5% (target 25–35%) provide ballast.

Stockland (ASX:SGP): Earnings up, distribution flat

Stockland's 25.2c distribution (6.00%) was 69% of FFO of 36.9c. FY2027 guidance lifts FFO to 38.0–39.0c but holds the distribution at 25.2c. Residential and land Lease activity will decide whether FFO lands in range.

BWP Group (ASX:BWP): the only guided increase

BWP guides to 20.00c for FY2027 after 19.41c (up 4.1%), which gives 5.41% at A$3.59. FY2026's distribution slightly exceeded FFO of 19.29c, so coverage deserves attention after May 2026's raising of about $228m.

Metcash Limited (ASX:MTS): the next interim

Metcash's year ends 30 April, so its next decision is the FY2027 interim. FY2026 delivered 18.0c fully franked (8.5c plus 9.5c), a 6.34% yield, at a 73.6% payout ratio against a target of about 74%. Its Dividend reinvestment plan is suspended.

Which factors decide whether payouts hold up?

For the six property trusts, the basics are rent collection, occupancy, lease length and gearing against target ranges. For the four companies, payout-ratio policies mean dividends move with profit, so a stable ratio does not produce a stable dividend.

What are the major risks to future payments?

• Tenant failure, which Arena has shown can arrive quickly
• Commodity prices and currency swings for Fortescue
• Energy market conditions and transition costs for AGL
• Household spending for Harvey Norman and Metcash
• Finance costs, already flagged by HDN

Why doesn't a higher yield mean a better investment?

A yield can climb simply because the market has marked a price down for reasons the payout history does not yet reflect. Arena, top of this list yet guiding lower, is the clearest example. The figures also exclude franking credits: the four companies' dividends are fully franked, which can affect after-tax value for eligible Australian investors depending on individual circumstances, but those credits are not added to any yield here.

What should investors monitor next?

Investors may want to note the Fortescue and Harvey Norman payment dates, Edge administration updates, Waypoint's quarterly distributions, FY2027 guidance revisions, and share price moves that will reshape every percentage above.

Key Insights / Key Takeaways

This list captures a moment: declared payouts divided by prices from one September evening. The months ahead will test each figure differently, through payment dates, a tenant administration, a wide profit range and guidance running lower, flat or higher. Those events may say more about 2027 income than today's ranking.