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5 top ASX dividend shares investors should never sell

The strength of owning ASX dividend shares is receiving the dividends year after year over the long-term without having to worry about selling.

Even if the share market is being volatile we can rely on these shares to pay reliable dividends, perhaps the dividend can even keep growing.

So, here are five ASX dividend shares that investors should never sell:

Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) 

Soul Patts is the gold standard for consistent dividend growth. It has increased its dividend each year since 2000. How has it done so well? It’s an investment house which has a diverse portfolio across telecommunications, building products, resources, pharmacies, agriculture and retirement living.

Its ability to invest in any asset gives it the flexibility which should allow it to remain relevant in the investment world for a very long time.

It currently has a grossed-up dividend yield of 3.8%.

WAM Global Limited (ASX: WGB) 

WAM Global is listed investment company (LIC) which invests in global shares and a few ASX shares.

Its sibling LICs of WAM Capital Limited (ASX: WAM) and WAM Research Limited (ASX: WAX) have excellent dividend records over the past decade and I think WAM Global can build a similarly good record.

Despite having many more investment opportunities available, WAM Global trades at a discount to its net assets whereas WAM Capital and WAM Research are at a premium. I know which one I’d rather buy for dividends.

Rural Funds Group (ASX: RFF) 

Rural Funds is a farmland real estate investment trust (REIT). Management aim to increase the distribution by 4% per annum for the foreseeable future. It’s able to make this prediction because rental increases are built into the contracts, the increases are based either on a fixed 2.5% increase or CPI inflation.

Farms have been useful assets for a very long time and should continue to be for the rest of our lives. Rural Funds is increasing its farm portfolio diversification over time. 

It currently has a FY20 distribution yield of 6%.

Brickworks Limited (ASX: BKW) 

Brickworks hasn’t decreased its dividend for four decades. Its dividend has been supported through the cyclical nature of Brickworks’ building products business by its large investment in Soul Patts. 

Acquisitions and organic expansion has seen Brickworks’ building product range increase, improving its earnings diversification. Brickworks has recently acquired three brickmakers in the US which gives Brickworks much better geographical diversification.

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

APA Group (ASX: APA)

APA could be the best energy business on the ASX. Its assets include gas pipelines, gas storage and processing facilities, renewable energy assets, stakes in power stations and a gas distribution network.

The infrastructure business has increased its distribution each year since 2005, which is one of the best records on the ASX.

APA Group currently has a distribution yield of 4.3%.

Foolish takeaway

Each of these shares have good long-term dividend prospects. At the current prices I’d probably say I’m drawn to Soul Patts the most, followed by Brickworks, then WAM Global.

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Motley Fool contributor Tristan Harrison owns shares of RURALFUNDS STAPLED, WAMGLOBAL FPO, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns shares of and has recommended RURALFUNDS STAPLED and Washington H. Soul Pattinson and Company Limited. 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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