If you’re seeking blue-chip ASX shares with fully franked dividends then Telstra Corporation Ltd (ASX: TLS), Wesfarmers Ltd (ASX: WES) and Flight Centre Travel Group Ltd (ASX: FLT) are worthy of a spot on your watchlist.

Here’s why:

Telstra Corporation Ltd – dividend yield: 6% fully franked

Telstra is a name synonymous with telecommunications in Australia. It is perceived to have the largest network coverage, reliability (despite recent events) and subscriber numbers. Its dominance is such that subscribers are in fact willing to pay a premium for its service, speaking volumes to its competitive strength/advantages in key markets.

Telstra is also expanding into Asia. And while that expansion may bring a unique set of risks, its local assets could provide a strong platform from which it can leverage growth. Telstra is also facing competition from rapidly growing rivals such as TPG Telecom Ltd (ASX: TPM) and Vocus Communications Limited (ASX: VOC). Nonetheless, at today’s prices, Telstra deserves a spot on watchlists.

Wesfarmers Ltd – dividend yield: 4.9% fully franked

Wesfarmers shares don’t appear cheap. The old-school conglomerate owns popular names such as Coles, Bunnings Warehouse, Kmart, Target and more. Wesfarmers is the quintessential blue-chip stock, having been in business for more than 100 years.

Wesfarmers’ success may (or may not) be traced back to its experienced and long-running management teams, which have executed big deals with knowledgeable insights into the businesses they plan to acquire and clear strategies to execute growth. Looking ahead, the company has dipped its toes into the UK hardware market and will be looking to maintain Coles’ growth over rival Woolworths Limited (ASX: WOW), within the important supermarkets business.

Flight Centre Travel Group Ltd – dividend yield: 3.6% fully franked

Using simple metrics, Flight Centre shares look cheap. Australia’s number-one travel agent network has moved from strength to strength in recent years, chalking up blistering share price growth and profits. Flight Centre is founder-run and the owner of brands like Student Flights, Infinity Holidays, Corporate Traveller, Escape Travel and more.

Recently, investors appear to have become bearish on Flight Centre shares despite its quality brands and management, an ongoing international expansion and strong balance sheet. While the threat of disruption is ever-present, investors might also consider that Flight Centre has a huge cash balance, which it could put to use acquiring digital businesses and services (as they have done recently).

Foolish takeaway

If you’re seeking income from your investments, I think each of these three businesses deserve a spot on long-term investors’ watch lists. However, at today’s prices, I think Flight Centre is the only company offering decent value but is – arguably – also the riskiest.

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Motley Fool Contributor Owen Raszkiewicz has a financial interest in Flight Centre and Vocus Communications. Owen welcomes -- and encourages -- your feedback on Google+, LinkedIn or you can follow him on Twitter @ASXinvest.

Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.