3 ASX dividend shares yielding 5.5% or more

Do you want to invest in ASX dividend shares, but don’t know where to start? Here are three of my top picks, all yielding 5.5% or more.

APA Group (ASX: APA)

Energy infrastructure giant, APA, owns and operates an extensive portfolio of gas, electricity, solar, and wind assets in Australia. 

APA is the major owner and operator of Australia’s gas distribution network, including pipelines, gas-fired power stations, and storage facilities, which transports more than half of Australia’s natural gas. 

The ASX dividend company is highly regarded for its strong and consistent dividend payments. It has been paying consistent distributions to shareholders for nearly 20 years, with revenue derived from long-term contracted infrastructure assets.  

APA paid an interim dividend of 27.5 cents in the first half of FY26 and is guiding a full-year dividend of 58 cents per security. That translates to a forward dividend yield of around 5.7%, partially franked, at the time of writing.

Amcor Plc (ASX: AMC)

Packaging giant Amcor makes and dispenses packaging products used for food, beverages, healthcare, nutrition, beauty, wellness, and consumer goods.

Because Amcor supplies essential packaging, it is widely regarded as a consistent defensive stock. Even during economic downturns, people still need to buy groceries and healthcare goods. It’s this defensive nature that means the company can earn stable, predictable revenue, which then allows it to pay a consistent dividend. 

Amcor has been paying dividends for decades, with a history of payouts dating back to at least the mid-1990s. The company currently pays dividends to shareholders quarterly in March, June, September, and December.

Earlier this month, Amcor announced it would pay shareholders US$0.65 per security in June, unfranked. This is equivalent to A$0.91 cents per security for Australian shareholders.

The ASX dividend company is forecast to pay a dividend of $3.62 per share in FY26. Based on the current share price of $54.45, that would represent a forward dividend yield of around 6.7% at the time of writing.

The forecast dividend is then expected to ease to $3.23 per share in FY27 and rise slightly to $3.30 per share in FY28. 

Universal Store Holdings Ltd (ASX: UNI)

Universal Store is an Australian youth fashion retailer that sells casual apparel, footwear, and accessories for men and women. The business targets 15 to 34-year-olds and sells its own private labels and other popular major brands such as Converse, Tommy Hilfiger, and Asics.

Retail companies are usually cyclical, but the company’s revenue growth is strong, and margins are impressive. Management has also continued expanding its presence and opening up more stores.

The company posted 14% growth in retail sales for the first half of FY26, across 43 weeks. For FY26, Universal expects group sales of $368 million to $375 million, compared with $333.3 million in FY25. Underlying EBITA is expected to land between $61.5 million and $64.5 million, up from $54.6 million last year. At the mid-point, that implies sales growth of 11.5% and underlying EBITA growth of 15.4%.

The solid figures mean Universal is able to pay a consistent dividend payment to shareholders. The company paid its first dividend to investors in 2021 and has maintained a consistent semi-annual dividend schedule ever since.

It most recently paid shareholders 26 cents per security in March, fully franked. Universal is forecast to pay a 36.3 cents per share dividend in FY26. Based on its current share price of $6.50, this equates to a dividend yield of around 5.6%, at the time of writing. 

The post 3 ASX dividend shares yielding 5.5% or more appeared first on The Motley Fool Australia.

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Motley Fool contributor Samantha Menzies 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 Amcor Plc and Apa Group. The Motley Fool Australia has recommended Universal Store. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.