ASX Dividends: Unveiling the Generosity of Large-Cap Mining Shares in FY24

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ASX dividends continue to be a source of great enthusiasm for investors, particularly when it comes to the potential dividend windfalls offered by large-cap mining shares within the ASX 200. The prevailing market conditions, characterized by robust demand for commodities such as iron ore and copper, often result in these mining giants delivering substantial returns to shareholders in the form of dividends.

In focus for the fiscal year 2024 are the ASX large-cap mining shares, each boasting a market capitalization exceeding $10 billion. Notably, the sector is led by the globally renowned BHP Group Ltd, with a staggering market cap just shy of $237 billion.

Examining the ASX dividend shares consensus forecasts recently published by CommSec sheds light on the dividend landscape for the upcoming fiscal year. Let's delve into the anticipated dividend yields for these significant players:

- Fortescue Metals Group Ltd (ASX: FMG):

  - Dividend yield: 5.53%

  - Forecast: 141 cents


- Rio Tinto Ltd (ASX: RIO):

  - Dividend yield: 5.24%

  - Forecast: 673 cents


- BHP Group Ltd (ASX: BHP):

  - Dividend yield: 4.76%

  - Forecast: 228 cents


- Newmont Corporation CDI (ASX: NEM):

  - Dividend yield: 4.4%

  - Forecast: 252 cents


- South32 Ltd (ASX: S32):

  - Dividend yield: 3.44%

  - Forecast: 11 cents


- Northern Star Resources Ltd (ASX: NST):

  - Dividend yield: 2.63%

  - Forecast: 31 cents


- Pilbara Minerals Ltd (ASX: PLS):

  - Dividend yield: 2.21%

  - Forecast: 8 cents


- Mineral Resources Ltd (ASX: MIN):

  - Dividend yield: 1.39%

  - Forecast: 90 cents


Despite the recent surge in Fortescue's share price, reaching a commendable two-year high of $25.51 per share, market analysts predict that it will emerge as the most generous ASX dividend payer in FY24. This optimism persists even after Fortescue's recent announcement of a substantial investment of $1.1 billion in green projects over the next three years. Notable among these projects are the Phoenix Hydrogen Hub in the United States, the Gladstone PEM50 Project in Queensland, and the Green Iron Trial Commercial Plant in Western Australia.

Investors keen on tapping into the dividend potential of large-cap mining shares find themselves at a promising juncture, with a diverse array of options to consider within the ASX 200. As the fiscal year unfolds, the market will keenly observe how these mining behemoths navigate the dynamic landscape, delivering not only valuable commodities to the global market but also robust returns to their shareholders in the form of dividends.
Location: Australia

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