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3 very reliable ASX dividend shares to buy

If you’re looking to invest in dividend shares for income, I would only want to choose the most reliable ASX shares.

With that in mind, I think these three ASX shares are worth considering:

WAM Research Limited (ASX: WAX)

WAM Research is a listed investment company (LIC) which invests in small and medium businesses that the investment team believe will benefit from a catalyst to boost the share price, otherwise it will sit in cash. The cash is very defensive and protects the portfolio when the market goes down.

This investment process has led to long-term market outperformance and that’s why WAM Research has been able to grow its dividend every year since the GFC.

With an impressive profit reserve, WAM Research has a grossed-up dividend yield of 10.2%. Although it’s trading at an expensive premium to its underlying assets.

Brickworks Limited (ASX: BKW)

Brickworks is a large construction business that also owns a significant stake of Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) which can smooth out earnings in leaner times.

Over the past 20 years the company has maintained or grown its dividend every year. It has been a very reliable dividend payer.

The company has recently been making moves to drive future growth, it has acquired the US’ fourth largest brick manufacturer called Glen-Gery for $151 million and has signed a MOU with FBR Ltd (ASX: FBR) to work together.

It currently has a grossed-up dividend yield of 4.3%.

Australian United Investment Company Ltd (ASX: AUI)

Australian United is an old LIC which has been going for more than 50 years. It invests mostly in all the blue chips on the ASX like Commonwealth Bank of Australia (ASX: CBA) and CSL Limited (ASX: CSL).

Australian United has maintained or increased its dividend every year since 1993 – not getting a dividend cut for more than 25 years is really good and it has been extremely reliable for shareholders in income terms.

It has a grossed-up dividend yield of 5.9%.

Foolish takeaway

All of these ASX shares have been rock-solid dividend payers since the GFC and are very likely to continue to be reliable dividend payers for a long time to come. The only time I’d worry is if another GFC comes along.

These top ASX dividend shares could also be really reliable dividend payers for many years to come.

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Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Brickworks. 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 Scott Phillips.

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