There are currently 10 stocks with double-digit yields on the ASX, exactly half the amount there was this time last year. 

While double-digit yields certainly sound enticing, investors should be aware that they could indicate that the market believes a company has limited growth prospects, a falling share price, or a one-off dividend. 

For those not in the know, dividend yield is calculated by adding up all the dividends (both special and normal) paid over the last 12 months and then dividing that value by a stock's current share price.

So, are any of these double-digit yields sustainable? 

To find out, Livewire's Ally Selby was joined by Plato Investment Management's Peter Gardner and Merlon Capital's Andrew Fraser. 

They share at what point alarm bells should start ringing on the sustainability of these yields, and where they are seeing growing yields over the short and long term. They also each name a stock they are backing - which surprisingly, are both incredibly similar - for attractive income over the next few years. 

Note: This episode was recorded on Wednesday 5 June 2024.