These ASX dividend shares have 10% and 4% yields

With interest rates unlikely to improve from their record lows any time soon, it’s very fortunate that the Australian share market has dividend shares offering investors very generous yields.

Two ASX shares dividend shares with above-average yields are listed below. Here’s what you need to know about them:

Fortescue Metals Group Limited (ASX: FMG)

The first dividend share with a generous yield is one of the world’s leading iron ore producers, Fortescue.

Over the last few years the mining giant’s shares have generated staggering returns for investors. This has been underpinned by its significant cost reductions, an increase in its grades, production growth, and favourable iron ore prices.

In respect to the latter, the spot…