This article was produced on 26 August, 2024. 

Key takeaways: 

• Inghams, Metcash, Endeavour Group, Elders and Graincorp are some of the ASX shares from the Consumer Staples sector with the highest 12-month trailing dividend yields currently. As always past trends and performance are not an indicator of future trends and performance.   

Although most investors might be inclined to associate the ASX Consumer Staples sector with supermarkets Woolworths (ASX: WOW) and Coles (ASX: COL), this segment of the market also extends to other retailers, manufacturers, and suppliers of food, beverages, tobacco, agriculture, household goods, and personal products. 

While most of these companies boast relatively modest market caps, numerous shares from this sector hold longstanding operations, have established themselves as billion dollar-plus companies, and trade on high dividend yields. Here is a selection of names beyond the supermarket giants that investors can research. 

Please note: This list is intended to present a selection of shares from this sector that are trading with the highest 12-month trailing dividend yield, excluding special dividends and disregarding franking status. There are no guarantees the following shares will continue to pay dividends as they have in the past, or at all. All data related to dividend yields and market caps are based on share prices at the close of trade on August 26, 2024. Forecast data © 2024 LSEG. 

Inghams Group (ASX: ING) 

Trailing 12-Month Dividend Yield: 6.5% | Forecast Forward Yield (FY26): 7.1% | Market Cap: $1.2 billion 

Inghams is the largest integrated producer and supplier of poultry across Australia and New Zealand, operating nearly 350 facilities in these markets, spanning farms, hatcheries, feed mills, primary processing plants, further processing plants, warehouses and distribution centres, and protein conversion plants. First established in 1918 as a family business, the company listed on the ASX in 2016.  

With a core focus on chicken and turkey products, Inghams relies on a vertically integrated business model, which also extends to stock feed for both internal use and supply to the broader pig and poultry industries. The company’s range of clients includes major retailers, quick-service restaurant operators, food service distributors, as well as wholesalers, with Inghams being the leading poultry supply partner for Woolworths supermarkets. 

For the most recent half, ending June 30, 2024, Inghams declared a fully franked final dividend of $0.08 per share. This brought the company’s total dividends for FY24 to $0.20 per share. Based on a closing price of $3.10 per share as of August 26, 2024, ING was trading on a 12-month trailing dividend yield of 6.5%. 

According to analyst forecasts, available to Selfwealth members on the trading platform, Inghams' pre-exceptional earnings per share (EPS) and dividend per share could both increase over the following two financial years. The mean estimates for ING’s FY25 and FY26 dividends per share are $0.21 and $0.22 per share respectively, with the latter offering an implied forward dividend yield of 7.1% for FY26. (© 2024 LSEG) 

Metcash (ASX: MTS) 

Trailing 12-Month Dividend Yield: 5.4% | Forecast Forward Yield (FY26): 5.8% | Market Cap: $4.0 billion 

Founded in 1927, and headquartered in New South Wales, Metcash is an Australian wholesale distribution and marketing company. Today, Metcash is the leading independent retail partner and wholesaler in the food, liquor, and hardware industries in Australia and New Zealand. Across these segments, the business provides merchandising, operational, and marketing support. 

In terms of its Food division, Metcash distributes a range of products and services to independent supermarkets and convenience retail outlets such as IGA Supermarkets. The company’s Hardware segment distributes hardware products to the likes of Mitre 10, Home Hardware and Total Tools, among others, while also overseeing the operation of corporate and joint venture retail stores. Metcash’s liquor operations involve the distribution of liquor products to independent retail outlets and hotels, including Thirsty Camel, Big Bargain Bottleshop, and Duncans.  

The last two dividend payments made by Metcash to shareholders were fully franked, valued at $0.11 per share (1H FY24) and $0.085 per share (2H FY24). Metcash operates on a fiscal year calendar ending 30 April. As of August 26, 2024, MTS shares, closing at $3.62 each, were trading on a 12-month trailing dividend yield of 5.4%.  

Looking forward, the mean estimates tracked by LSEG for Metcash’s dividend in FY25 and FY26 are $0.20 per share and $0.21 per share respectively, representing a slight increase from FY24, and an implied forward dividend yield for FY26 of 5.8% (© 2024 LSEG). 

Endeavour Group (ASX: EDV) 

Trailing 12-Month Dividend Yield: 4.2% | Forecast Forward Yield (FY26): N/A | Market Cap: $9.2 billion 

Once part of the Woolworths Group, Endeavour Group was spun off and listed as a separate entity on the ASX in 2021. The company is an Australian alcoholic drinks retailer, hotel operator, and poker machine operator with shops and venues all around the country. Endeavour Group runs the largest portfolio of licensed hotels in Australia, backed by around 28,000 employees. 

The company’s Retail segment operates nearly 1,700 licensed liquor stores under the Dan Murphy’s and BWS brands, as well as specialty businesses like Langton’s, Shorty’s Liquor, and Jimmy Brings, which produce and distribute brands through Pinnacle Drinks. Meanwhile, the company’s Hotels segment includes the Australian Leisure and Hospitality Group subsidiary, which oversees hundreds of hotels, where food and beverages, accommodation, entertainment, and gaming operations are managed. 

For FY24, Endeavour Group paid a total dividend of $0.218 per share, unchanged over the year. This included fully franked dividends of $0.075 per share (2H FY24) and $0.143 per share (1H FY24). Based on these payments, and a closing share price of $5.15 as of August 26, 2024, EDV was trading on a 12-month trailing dividend yield of 4.2%. Currently, earnings and dividend forecasts are not available for EDV. 

Elders (ASX: ELD) 

Trailing 12-Month Dividend Yield: 4.5% | Forecast Forward Yield (FY25): 4.4% | Market Cap: $1.5 billion 

One of the longest-operating businesses in Australian history, Elders was founded in 1839. At times throughout its history, Elders has operated various types of businesses and operations, but in 2013 the company returned to a pure-play agribusiness strategy after divesting remaining operations related to its Automotive and Forestry divisions. 

Today, Elders runs three core segments: Branch Network, Wholesale Products, and Feed and Processing Services. The Branch Network division focuses on the provision of a range of products and services through a common distribution channel, including agricultural retail products, agency services, real estate services, and financial services. Elders Wholesale Products division includes the Australian Independent Rural Retailers (AIRR) business, in addition to a network of eight warehouses supplying independent retailers. The Feed and Processing Services segment includes Killara feedlot, a beef cattle feedlot in New South Wales.  

For its fiscal HY24, Elders paid shareholders an interim dividend of $0.18 per share, franked at 50%. In relation to FY23, the company declared a final dividend of $0.23 per share, franked at 30%. With the Elders share price trading at $9.18 as of August 26, 2024, the stock was trading on a 12-month trailing dividend yield of 4.5%.  

A compilation of analyst forecasts offered by LSEG on the Selfwealth platform point to the prospect that Elders may see a notable decrease in both earnings and total dividend in FY24 to $0.43 per share and $0.33 per share respectively, before reversing course a year later in FY25 to $0.63 per share and $0.40 per share respectively (© 2024 LSEG). Based on the mean dividend estimate for FY25, ELD is trading on an implied forward dividend yield of 4.4%. 

Graincorp (ASX: GNC) 

Trailing 12-Month Dividend Yield: 3.3% | Forecast Forward Yield (FY25): 4.3% | Market Cap: $1.9 billion 

Making its ASX debut before the turn of the century, GrainCorp is an Australian commodity trading business. It is primarily engaged in the receiving and storage of grain and related commodities, as well as marketing and logistics activities, making the company an integrated supplier with a vast supply chain stretching globally. In addition, Graincorp also focuses on edible oils, including processing of oils, and oilseed crushing. 

By division, the company operates two core segments: Agribusiness, and Nutrition and Energy. Agribusiness focuses on the end-to-end supply of wheat, coarse grains, oilseeds, pulses, and organics sourced from a broad range of locations, and intended for various markets. On the other hand, the company’s Nutrition and Energy segment is a vertically integrated business related to edible oils crushing, processing, manufacturing, distribution, alongside the trading of animal fats, used cooking oils, and vegetable oils for animal feed purposes. 

For the six months ending March 31, 2024, Graincorp paid a fully franked interim dividend of $0.24 per share. That followed a fully franked final dividend of $0.30 for the company’s 2H FY23 period, ending September 30, 2024. On both occasions, a special dividend was paid, being $0.10 (1H FY24) and $0.16 (2H FY23). With the stock trading at $8.42 per share as of August 26, 2024, GNC’s 12-month trailing dividend yield, excluding special dividends, was 3.3%. 

A range of analyst forecasts provided by LSEG suggests Graincorp’s pre-exceptional EPS and dividend per share could both drop sharply from FY23 levels of $1.11 and $0.54 per share respectively to $0.50 and $0.36 per share respectively by FY25 (© 2024 LSEG). This would correspond with an implied forward dividend yield for FY25 of 4.3%, assuming the dividends consist entirely of ordinary dividends and not special dividends. 

As always past trends and performance are not an indicator of future trends and performance. It is important to always do your own research before making decisions to invest.