$18 billion of ASX dividends are being paid out this week. Here’s the lowdown

This week is gearing up to be a massive one for ASX dividend investors, with more than $18 billion worth of payouts said to be hitting bank accounts.

And the best is yet to come, with some of the S&P/ASX 200 Index (ASX: XJO)’s highest yielding companies set to hand out their upcoming dividends tomorrow.

Let’s take a look at the billions of dollars set to be handed out to Aussie dividend fans over the remainder of this week.

The ASX 200 shares paying out nearly $15b of dividends this week

Financial year 2022 was another big one for dividends.

Analysis by CommSec found ASX 200 companies declared more than $42 billion worth of dividends in August.

And ASX shares will hand out $18 billion this week according to Bell Potter’s Richard Coppleson, courtesy of the Australian Financial Review.

This week’s biggest payer is none other than BHP Group Ltd (ASX: BHP). The ASX’s largest company declared a whopping $2.55 per share dividend, worth more than $12 billion in total.

That’s set to hit investors’ bank accounts tomorrow alongside Rio Tinto Limited (ASX: RIO)’s upcoming $3.847 per share interim payout.

That will see Rio Tinto handing out a total of around $1.4 billion to its Aussie investors on Wednesday.

Of course, the company’s investors might still be lamenting the smaller offering. The iron ore favourite slashed its latest payout by 52% year on year.

Looking beyond materials shares, fan favourite Telstra Corporation Ltd (ASX: TLS) is set to drop 8.5 cents of dividends per share tomorrow.

That offering incorporates a 7.5 cent final dividend and a 1 cent special dividend, worth around $980 million.

Telstra’s offering was scheduled to be paid out on Thursday but was brought forward after the day was declared a national day of mourning to commemorate Queen Elizabeth II.

Finally, ASX 200 energy giant Santos Ltd (ASX: STO) is also gearing up to hand out its 10.93 cents per share dividend on Wednesday. That’s worth around $366 million and represents a 38% year-on-year improvement.

Those mark a few of the ASX giants paying out dividends this week. And market watchers might want to hold onto their hats next week too.

Commonwealth Bank of Australia (ASX: CBA), Fortescue Metals Group Limited (ASX: FMG), and Woolworths Group Ltd (ASX: WOW) will pay out nearly $8 billion between them then.

The post $18 billion of ASX dividends are being paid out this week. Here’s the lowdown appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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