Recent bond market volatility has put pressure on quite a few UK shares, pushing up their dividend yields. As a result, there are more stocks yielding 7% or more on a forward-looking basis.

Here are a pair that might be worth considering locking in today.

M&G

Shares of savings and investment company M&G (LSE:MNG) have pulled back 16% in the past couple of months. Consequently, the FTSE 100 stock now sports a forward yield of 7.05%.

Admittedly, dividend cover is a little low at about 1.4. That’s calculated as earnings per share divided by the dividend per share. However, I don’t anticipate a cut here because the business has been performing quite strongly.

In the first half of 2026, adjusted operating profit rose 15% to £435m, the best first-half result since M&G demerged from Prudential in 2019. This was driven by 24% growth in the Asset Management unit, which attracted net inflows of £2.2bn from external clients.

CEO Andrea Rossi was also bullish on the second half and beyond. He said M&G “continues to grow and transform, becoming a more diversified, efficient, and capital-light business“. The balance sheet remains strong.

Of course, the external trading environment has been volatile since then. We don’t know what impact lower bond prices will have on M&G’s assets under management.

However, the inflation-busting yield undoubtably looks attractive.

Londonmetric  

Next, there’s Londonmetric Property (LSE:LMP), whose share price has dropped 10% since July and 30% over five years.

This underperformance reflects the higher interest rate environment, which has hit all real estate investment trusts (REITs) in the past few years. If rates move higher, the share price could come under even more pressure.

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That said, there are a few things to like about Londonmetric. The first is that its assets are concentrated on sectors benefiting from consumer tailwinds, particularly online shopping, as well as durable areas like convenience retail and entertainment and leisure.

Due to this, the REIT has a really high occupancy rate. Indeed, this recently climbed to 98.3% from 97.7%. Blue-chip tenants include Starbucks, Amazon, Next, Travelodge, Premier Inn, Primark, Aldi, Lidl, Tesco, and the owner of Alton Towers.

The average lease length is 17 years, with the majority of leases having guaranteed contractual uplifts. In Q1 FY27, LondonMetric added a further £6.7m per year in rent from 72 initiatives.

We continue to enhance our all-weather portfolio by maximising our income quality, granularity and growth…Whilst the market remains tight for quality opportunities, we are seeing a greater number of attractive deals, particularly across development fundings and asset sales from pension funds.

CEO Andrew Jones.

Last but not least, there’s a forward dividend of 7.45% on offer. That’s easily one of the highest in the FTSE 100.

Note that Londonmetric has hiked its annual dividend for 11 years in a row. There’s nothing etched in stone saying this will continue for the next decade though, especially if a prolonged economic downturn puts pressure on occupants.

Yet as a shareholder myself, I’m optimistic. I like the essential logistics and convenience properties, high-quality tenants, near-full occupancy, long leases, and of course that fat dividend yield.

Who knows? Perhaps there might even be some decent share price growth in future if and when things settle down.

Should you invest £5,000 in LondonMetric Property Plc right now?

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Ben McPoland owns shares of Londonmetric Property.