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You’d have to have been living under an ASX investing rock to have not noticed what has been going on with ASX energy shares this year. 2022 has been a rough year for ASX shares in general. The All Ordinaries (ASX: XAO) remains down a painful 12.2% year to date.
But it’s been a whole different story for the energy sector. Even though ASX shares have suffered through a tough year, the S&P/ASX 200 Energy Index (ASX: XEJ) is up an extraordinary 29.3% in 2022 so far.
Record commodity prices have largely been to thank for this. Global inflation, tight supply chains, and the ongoing war in Ukraine have played havoc with energy markets this year. While this has been bad news for motorists and households paying energy bills, it has been a blessing for energy shares.
5 ASX energy shares rocking monstrous dividend yields
The first is Whitehaven Coal Ltd (ASX: WHC). While oil prices tend to get the most attention, this year has also seen coal climb to historically high levels. We can see this reflected in the valuation and dividends of ASX coal shares like Whitehaven.
Whitehaven has just paid out one of the highest dividends in years. In March, the company forked out an interim dividend of 8 cents per share. But just last week, investors were treated with a final dividend worth a whopping 40 cents per share, fully franked. That gives Whitehaven shares a trailing yield of 5.7% today.
We see a similar story with Whitehaven’s fellow coal miner New Hope Corporation Limited (ASX: NHC). New Hope has also been cashing in on the high coal prices. The company doled out a final dividend of 7 cents per share last year.
But this May saw the dial turned up. New Hope paid out an interim dividend of 17 cents per share, alongside a special dividend worth 13 cents per share. This gives New Hope shares a yield of 4.4% today, or 6.23% if we include the special dividend.
From coal to oil
Turning from coal to oil, we have oil refiner Viva Energy Group Ltd (ASX: VEA). As Whitehaven and New Hope have benefitted from higher coal prices, so too has Viva from higher oil prices. The company has broken the mould when it comes to dividends this year.
In 2021, Viva doled out just 4.1 cents per share in dividends. But this year has seen a March final dividend of 3.2 cents per share and a whopping interim dividend of 13.7 cents per share that investors will receive this week. This will give the Viva Energy share price a yield of 6.38%.
Oil is the theme of our next ASX energy share in Woodside Energy Group Ltd (ASX: WDS). Woodside has also used higher oil prices to dial up its dividends. 2021 saw a total of 56.3 cents per share in dividends from Woodside.
But March’s final dividend of $1.4616 and next month’s interim dividend of $3.199 per share is a gamechanger. This will result in a total of $4.661 in dividends per share for 2022, and will give Woodside shares a yield of 9.38%.
Our final share is certainly one to write home about in Yancoal Australia Ltd (ASX: YAN). March saw Yancoal return to paying dividends with a bang. It announced both a final dividend of 50 cents per share and a special cash dividend of 20.4 cents per share.
This month, the coal miner will fork out an interim dividend worth another 52.71 cents per share. This all gives Yancoal a monstrous dividend yield of 16.49% on current pricing, or an even more stupendous 19.76% if we include the special dividend.