Transurban Group provides a 4.34% dividend yield, supported by predictable cash flows and inflation-linked toll increases, though its dividends lack significant franking.
Looking for Aussie shares sporting big dividends is something of a national pastime in Australia, albeit not quite on the same level as property investing. Thanks in part to our generous (and unique) franking system, Australian investors love a big dividend on the ASX.
But with the stock market on such a lucrative tear in recent months, the prices of many Aussie dividend stocks have increased substantially. This has, unfortunately, resulted in the dividend yields of said stocks decreasing proportionately.
However, all is not lost. There are plenty of dividend shares left on the ASX that offer substantial yields over 4% today. Let's go through three of them right now.
3 Aussie dividend stocks with 4% yields today
ANZ Group Holdings Ltd (ASX: ANZ)
A famous Aussie bank and dividend stock, ANZ is first up here. Income investors breathed a sigh of relief just today when ANZ revealed that its final dividend of 2025 would come in at the same level as last year's - 83 cents per share. This means that this bank's current dividend yield of 4.42% remains unchanged, at least for another six months.
That does come with a caveat, though. ANZ, unlike the other major banks, does not attach full franking credits to its dividends anymore. This latest payout will come partially franked at 70%.
BHP Group Ltd (ASX: BHP)
BHP, the famous ASX mining stock, is next up. Like any miner, BHP's dividends tend to bounce around, depending on what commodity prices are doing. As we discussed this morning, this company's 2025 payouts have been lower than the ones investors enjoyed over 2024. But even so, BHP remains an income heavyweight. Right now, its shares are trading with a trailing dividend yield of 4.01%. Thankfully, though, the dividends from this Aussie dividend stalwart almost always come with full franking.
Hopefully, BHP can keep this level of income at least steady into 2026.
Transurban Group (ASX: TCL)
Finally, let's talk Transurban, the toll road operator famous for its stewardship of the vast majority of tolled arterial roads across Sydney, Melbourne and Brisbane.
Transurban is a favourite income payer for many Aussie dividend investors, thanks to its highly predictable cash flows and income payments. Transurban has multi-decade leases on most of its assets, which usually include generous quarterly (and inflation-linked) toll increases. This gives its investors a rare level of certainty on how much income to expect out of the company.
At current pricing, Transurban shares are trading with a dividend yield of 4.34%. However, given this company's unique structure, its payouts usually don't come with much in the way of franking.