Age 60 and looking for income? 3 FTSE 100 shares yielding 6%+ to consider

FTSE 100 shares can be a brilliant way to generate income as well as growth, especially when retirement is coming into view.

People of all ages buy income shares, with many reinvesting their dividends to generate more growth. But for those hitting 60, the focus often shifts to harvesting those dividends as income. 

Dividends aren’t guaranteed, and share prices can swing about, but the long-term potential for rising income and capital growth makes them worth a closer look. Right now, three top names are throwing off yields of 6% or more.

Aviva has been growing too

Insurer Aviva (LSE: AV) has been on a tear. Its share price is up 20% over the past year and a staggering 150% over five years. 

The latter figure is flattered by the fact that it dates back to the start of the Covid pandemic, when shares generally were down in the dumps.

Investors shouldn’t expect a repeat performance, but as consolation there’s a generous dividend yield of 6.2%, paid out of stable recurring income.

The Aviva share price isn’t as cheap as it was, with a price-to-earnings (P/E) ratio of around 24. And there are risks, as today’s market volatility hits the value of assets under management. It also faces competition from FTSE 100 rivals, who have trailed lately but could play catch-up. There may be some volatility, but there’s lots of potential income too.

Land Securities is fighting back

Land Securities Group (LSE: LAND) is one of the UK’s biggest real estate investment trusts (REITs), owning everything from London offices to retail parks. 

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Landsec has faced a triple whammy from higher interest rates, the working from home trend and rise of e-commerce. The share price is still 12% lower over the last year, and down 7% over five. And that’s despite jumping 20% in the last month.

The group is pivoting towards residential property, and early signs suggest tenants are coming back to its commercial sites. 

Last week’s interest rate cut adds some optimism, while the yield is a tempting 6.6%, with a P/E of around 12.

The troubled UK economy still casts a cloud, and Britons aren’t shopping like they were. But patient investors might consider buying for the income while they wait for brighter times.

Rio Tinto has lost some shine

Rio Tinto (LSE: RIO) is another high yielder that’s fallen from grace lately, down 20% over the past 12 months. 

China’s economic slowdown has hit it hard, reducing demand for metals and minerals. Tariffs haven’t helped, nor has the threat of a US recession.

But I still think there’s a solid long-term case here. Rio is a key supplier of copper, lithium, aluminium and iron ore, which are vital for electrification, clean energy and AI infrastructure. 

The shares trade at under nine times earnings and offer a yield of 6.9%. In its latest update, published 4 February, Rio reported cash flow from operations of $11.8bn and maintained its strong balance sheet.

These three shares each offer something different, but all throw off healthy income. They’re not the only FTSE 100 income plays doing well either. And some yield a lot more than 6%.

The post Age 60 and looking for income? 3 FTSE 100 shares yielding 6%+ to consider appeared first on The Motley Fool UK.

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Harvey Jones has no position in any of the shares mentioned. The Motley Fool UK has recommended Land Securities Group Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.