The quality high yielders Australia's largest bank Commonwealth Bank of Australia ( ASX: CBA ) is now trading on a grossed up yield of 10.6% based on last year's dividend. CBA has a fortress of a balance sheet, and is not afflicted by ambitious overseas forays infecting the likes of Australia and New Zealand Banking Group ( ASX: ANZ ) and National Australia Bank ( ASX: NAB ). Its size allows for significant economies of scale, which will play a very crucial part in the long term. The Motley Fool has no quarrels if a company decides to make all its money in Australia and return the money to shareholders, year in year out. QBE Insurance Group Ltd. ( ASX: QBE ) is now trading on a grossed up yield of 10.9% based on last year's dividend. The management team has hardly put a foot wrong in over a decade of operations. Telstra Corporation Limited ( ASX: TLS ) is now trading on a grossed up yield of 13%.