IGO Limited (ASX:IGO) currently offers the highest dividend yield on the ASX. It stands out for its exceptional payout relative to other large-cap stocks, making it particularly attractive for income-focused investors . While its yield is notably higher than many peers, it's important to assess whether it’s sustainable—considering factors like earnings strength, debt levels, and dividend coverage. Investors should also weigh the cyclical nature of its mining and battery-metals exposure. Overall, IGO’s elevated yield offers compelling income potential, but a thorough analysis of financial health and sector trends is essential before investing.

New Hope Corporation (ASX:NHC) currently offers one of the highest dividend yields on the ASX, making it a top choice for income-focused investors. This Queensland-based thermal coal miner has benefited from strong coal prices and a low valuation, enabling it to distribute substantial fully franked dividends . While its yield stands out, investors should be cautious: coal is cyclical, and dividend sustainability hinges on commodity trends and regulatory pressures. If you’re considering NHC, assess its exposure to global energy demand, coal price outlook, and long-term viability alongside the attractive income it currently delivers.