As I`m new to the ASX, I`d like to discuss the HIGH DIVIDEND stocks with you

Ok, we are in the recession, no drama, it will end soon or later, so let`s cherry pick th ebest stocks and create an high returning portfolio that:

1) will generate the best return each 6 months
2) possibly will grow overtime (allow a 3 to 5 years time frame for big returns)
3) will have tax deductions benefits if in the short terms the markets will go even lower

I have been looking at the last data (close of Friday 24 October) and this is what I get on the TOP 300 companies on the ASX (by market capitalisation):

Company Name Gross Yield %

Incitec Pivot 150.47
Babcock & Br Infr stp 50.00
Australand Prop stpld 46.24
FKP Prop Grp stpld 37.88
Macq Country unt 35.71
Abacus Prop stpld 34.81
Goodman Grp stpld 34.00
Macq Office unt 30.68
Babcock & Brown 28.62
Macq Comm stpld 28.40
ING Industrial Fd unt 28.17
Macq Media stpld 27.94
Charter Hall Grp stpld 27.69
Mirvac Real Estate unt 24.00
GPT Grp stpld 22.61
AMP Capital China unt 20.21
Qantas Airways 19.61
Asciano Grp stpld 19.09
Challenger Div Pro stpld 18.78
Hastie Grp Ltd 18.43
Suncorp-Metway 18.24
BlueScope Steel 18.18
Mirvac Grp stpld 18.09
GUD Hldgs 17.92
Pac Brands 17.79
Cromwell Grp stpld 17.31
Babcock & Br Wind stp 17.26
Macq Grp Ltd 17.14
Alesco Corp 16.94
Aust Wealth 16.67
Sunland Grp Ltd 16.39
Alumina Ltd 16.09
Devine Ltd 15.97
Macq Leisure stpld 15.93
Envestra Ltd ord/loan 15.45
Transfield Serv Infr stp 15.42
Challenger Infra stpld 15.18
ConnectEast stpld 15.00
Jetset Travelworld 14.90
Peet Ltd 14.85
Ten Network Hldgs 14.83
Oakton Ltd 14.41
Centro Retail stpld 14.00
Wesfarmers Ltd 13.98
David Jones Ltd 13.78
Lend Lease Corp 13.67
Dexus Prop Grp stpld 13.45
Fairfax Media Ltd 13.38
Skilled Grp Ltd 12.98
Count Financial 12.98


The ones above are the TOP 50 with the highest dividends (GROSS %) and I`d love to know if you know anything about them, if they are at risk or any other info since it`s quite strange to see such high dividends and I still have a lot to learn about the Australian companies listed in the ASX.

For instance, how can a company called INCITEC PIVOT give out 150 % dividend? Maybe a mistake?

Let`s discuss.

Thank you