The Motley Fool

2 generous ASX dividend shares to buy for income today

One of the greatest things about owning shares – ASX shares in particular – is the franked dividends. Having a rising stream of income coming into your personal account – which can even be reinvested for more income down the road – is a great way to tangibly build wealth and see/feel the benefits of owning income-producing assets.

With this in mind, here are 2 ASX dividend shares that I think will reward you with ample dividend income for many years to come.

BHP Group Ltd (ASX: BHP)

BHP is not known as the ‘big Australian’ for nothing – it’s our largest miner and one of the oldest companies on the ASX. I still think BHP is a great investment today, as its low-cost operations allow the company to make it rain (cash) when commodity prices are high – which happens on a cyclical basis

It also has its eggs spread across a few baskets, which include coal, iron ore, copper and petroleum. This is very advantageous from a diversification standpoint. For these reasons, I think BHP is a great buy for income today – especially since the shares have dipped recently on news that its CEO will retire soon.

Woolworths Group Ltd (ASX: WOW)

Woolworths is another classic Aussie company that I think is looking great today. Woolies has proved it has the branding and marketing power to keep its competitors like Coles Group Ltd (ASX: COL) and Aldi at bay. Its successful promotional strategies and promotional programs like the recent Discovery Garden and Lion King toys have also pleased parents and investors alike.

Woolworths also owns the Big W discount stores as well as Dan Murphy’s and BWS liquor chains, which throws in some healthy diversity too. WOW shares currently offer a grossed-up dividend yield of 3.73%

Foolish takeaway

I think these 2 ASX dividend-paying giants would form a solid backbone of any income-focused portfolio. Both have a strong track record of dominating their respective fields and delivering for investors – which makes them stocks worth holding in my view!

I would also recommend a good look at our new Top 3 Dividend Shares To Buy For 2020

When Edward Vesely -- our resident dividend expert -- has a stock tip, it can pay to listen. With huge winners like Dicker Data (up 147%) and Collins Food (up 105%) under his belt, Edward is building an enviable following amongst investors that are planning for retirement.

In a brand new report, Edward has just revealed what he believes are the 3 best dividend stocks for income-hungry investors to buy now. All 3 stocks are paying growing fully franked dividends giving you the opportunity to combine capital appreciation with attractive dividend yields.

Best of all, Edward’s “Top 3 Dividend Shares To Buy For 2020” report is totally free to all Motley Fool readers.

Click here now to access this free report.

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. 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 Scott Phillips.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.