The ASX’s headline yield has slipped, but dividend income is still on offer if investors know where to look. In this episode of The Rules of Investing, IML’s Dr Michael O’Neill explains the dividend outlook, shares five ASX income picks, and outlines the mistake investors are making on rates and valuation risk.

*Correction - in the podcast Michael mistakenly said the yield on CSL is 4% when it is actually closer to 3% based on 1-year forward estimates from brokers.