Best Dividend Yields

What's the best dividend on the ASX? Is it Telstra? No, the telco actually comes in at number 19 (with 7.22%). The best dividend stock in Australia '” 100% franked and paying a kingly 12.82% '” is City Pacific. The mortgage trust company has more than $5 billion worth of loans on its books and Shane Stone, immediate past president of the Federal Liberal Party, on its board of directors.
In fact, property and mortgage trusts dominate the list of top dividend yields. Included in the list are some of the nation's most established listed property trusts (LPTs), including Macquarie Prologis, Macquarie DDR, Australand, Investa and Macquarie Office.

Of course, one of the reasons some companies have found themselves with such high yields is a falling share price. AWB, along with its unfranked peers Mutiplex and PaperlinX, come into this category. Still, unless you believe these companies are actually going to collapse (and Eureka Report believes they will all survive),a substantial yield is there for the taking. Remember these figures for dividend yields; do not take into account the “grossing up” effect after tax.