It's been a crazy month or so for ASX dividend shares.
Concerns about the novel coronavirus have shut down the economy and hammered corporate earnings. In a twist of fate, all of this has occurred just weeks after the February results season.
Much of the guidance provided just 2 months ago has been thrown out the window. The landscape has changed. ASX dividend shares have been hammered lower as investors flock to gold and cash.
But there are still some businesses going strong. Here are 3 ASX dividend shares that have reaffirmed their 2020 earnings despite the pandemic.
CSL Limited (ASX: CSL)
CSL shares were already a solid buy before the pandemic. It's hard to argue against an ASX dividend share that is up more than 40,000% since its IPO.
But CSL reaffirmed its earnings guidance and blue-chip status on Thursday. The Aussie biotechnology group provided a COVID-19 update to the market before the Easter break.
CSL expects to see plasma activities impacted by the pandemic but is hoping to mitigate this through a number of initiatives. Importantly, many of CSL's products are life-saving or life-extending rather than discretionary.
This is good for earnings and CSL has reaffirmed its FY 2020 profit guidance of US$2,110 million to US$2,170 million in constant currency.
The fact that it earns much of its revenue in US dollars could also be a bonus given the weaker Aussie dollar right now.
MNF Group Ltd (ASX: MNF)
At the time of writing, MNF Group shares are up 54% from March 18 and could be an ASX dividend share worth buying. The group provides remote working solutions and is unsurprisingly seeing a surge in demand right now.
MNF reaffirmed its expectations for $36 million to $39 million in earnings before interest, tax, depreciation and amortisation (EBITDA) for FY 2020. That's unchanged from its previous forecast in late February thanks to the surge in Aussies working from home right now.
The ASX dividend share boasts a $386 million market capitalisation and is currently yielding 1.42%.
Rural Funds Group (ASX: RFF)
Rural Funds shares are under pressure in April despite recently reaffirming its FY 2020 earnings. The Aussie agriculture real estate investment trust (REIT) expects to see adjusted funds from operations of 13.5 cents and distributions per unit up 4% to 10.85 cents for FY20.
The ASX dividend share is currently yielding 4.90% with a market cap of $626 million as of Thursday's close.
