Are you looking for some reliable ASX dividend shares to add to your income portfolio?
Then you might want to take a look at the dividend shares listed below. Here’s what you need to know about them:
BWP Trust (ASX: BWP)
The first ASX dividend share to look at is commercial property company BWP Trust. It is the largest owner of Bunnings Warehouse sites across Australia with 68 properties leased to the home improvement giant.
Thanks to the strong performance of the Bunnings business during the pandemic, BWP has been able to collect the majority of its rent as normal over the last 12 months.
This and favourable property revaluations led to BWP’s overall profit climbing 6% over the prior corresponding period to $144 million during the first half of FY 2021.
With the results release, management reaffirmed plans to pay a full year distribution of ~18.3 cents per share. Based on the current BWP share price, this represents a generous 4.65% dividend yield.
Rural Funds Group (ASX: RFF)
Another reliable ASX dividend share to look at is Rural Funds. It owns a diverse portfolio of high quality Australian agricultural assets which are leased to highly experienced operators.
At the end of FY 2020, Rural Funds owned a total of 61 properties with a combined value of $1 billion and a very long weighted average lease expiry (WALE) of 10.9 years.
Thanks to built in rental increases and these long leases, management believes it can grow its distribution by 4% per annum over the long term. This is expected to be the case this year, with the company intending to pay shareholders a distribution of 11.28 cents per share.
Based on the current Rural Funds share price, this works out to be an attractive 4.5% yield for income investors.
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Returns As of 15th February 2021
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended RURALFUNDS STAPLED. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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