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Which FTSE 100 stocks pay the highest dividends?
The FTSE 100 can be a valuable source of dividends, but which of its companies pays the most back to shareholders?
The FTSE 100 looks set to generate a record level of dividends this year, with analysts expecting the index’s constituents to pay out a combined £88.8 billion.
Most of the top stocks in London’s flagship index are large, well-established companies in sectors like healthcare, financials, oil and gas and consumer staples. Companies like these are in prime position to pay out healthy dividends to income-focused investors.
The amount that analysts forecast the FTSE 100 to pay out in dividends this year has risen over the past three months, from £88.0 billion in March, despite the impact of the conflict in Iran.
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“As a result, consensus analysts’ estimates suggest that 2018’s all-time high FTSE 100 dividend payment of £85.2 billion will finally be exceeded in each of this year and next,” said Russ Mould, investment director at investment platform AJ Bell.
“As a result, consensus analysts’ estimates suggest that 2018’s all-time high FTSE 100 dividend payment of £85.2 billion will finally be exceeded in each of this year and next.”
“Share buybacks could yet supplement this total,” Mould continued. “The FTSE 100’s members have already declared cash returns worth £36 billion via this mechanism for 2026. Add that to the forecast dividend payments and the total cash return from the FTSE 100 is currently expected to be £124.8 billion in 2026, or 4.7% of the FTSE 100’s total £2.7 trillion stock market valuation.”
Mould pointed out that this aggregate dividend yield beats both inflation and the Bank of England’s base rate, and is only slightly lower than the yield on the benchmark 10-year gilt (which is around 4.8%).
Top dividend stocks in the FTSE 100
Ten companies collectively (10% of the index’s constituents) account for more than half the FTSE 100’s expected dividend payouts this year, with a combined expected dividend payout of £46.8 billion.
They are:
Swipe to scroll horizontally
FTSE 100’s 10 biggest forecast dividend payers of 2026 by total payout
Source: Company accounts, Marketscreener, consensus analysts’ forecasts via AJ Bell. Ordinary dividends only. Data as of 12 June 2026.
While the figures above show the total amount these companies are expected to pay in dividends this year, it is worth considering the dividend yield – which measures dividends as a percentage of market capitalisation and, therefore, shows what your income from a stock would be based on the price you pay for its shares.
Those ten companies offer the following dividend yields, as of 29 June:
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FTSE 100’s 10 biggest forecast dividend payers of 2026 by dividend yield
Company
Dividend yield (as of 29 June)
BP
5.3%
British American Tobacco
5.1%
NatWest
5.0%
Rio Tinto
4.2%
HSBC
3.9%
Shell
3.8%
Unilever
3.7%
GSK
3.4%
Lloyds
3.3%
Astrazeneca
1.7%
Source: LSEG
According to AJ Bell, the top 10 FTSE 100 stocks based on their forward dividend yields (expected dividends over the next year as a percentage of their share price) are:
Swipe to scroll horizontally
FTSE 100’s 10 top dividend stocks by dividend yield
Source: Company accounts, Marketscreener, consensus analysts’ forecasts, LSEG Refinitiv data via AJ Bell. Based on ordinary dividends only. Data as of 12 June 2026.
FTSE 100 dividend payouts should be resilient despite the disruption from the conflict in Iran and the resulting closure of the Strait of Hormuz.
“Forecasts for company profits and dividends [have not] suffered thanks to the war in the Middle East, despite lingering concerns over the risk of long-term supply disruption of not just oil, but liquefied natural gas, sulphur, and helium,” said Mould. “Company earnings reports have been strong as upside surprises have comfortably outnumbered profit warnings on both sides of the Atlantic.”
Income-focused investors who favour investment trusts can also look for dividend heroes – trusts with a track record of raising annual dividends consistently for at least 20 years.
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Join more than 165,000 subscribers and keep yourself informed with the latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Dan is a financial journalist who, prior to joining MoneyWeek, spent five years writing for OPTO, an investment magazine focused on growth and technology stocks, ETFs and thematic investing.
Before becoming a writer, Dan spent six years working in talent acquisition in the tech sector, including for credit scoring start-up ClearScore where he first developed an interest in personal finance.
Dan studied Social Anthropology and Management at Sidney Sussex College and the Judge Business School, Cambridge University. Outside finance, he also enjoys travel writing, and has edited two published travel books.
