Top ASX dividend shares to buy in April 2022

These nest eggs could be worth a look at for your passive-income basket!

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As the Easter break approaches, we asked our Foolish contributors to hop to it and compile a list of ASX dividend shares the eggsperts reckon are looking sweet in April. Here is what the team came up with.

Bernd Struben: Macquarie Group Ltd (ASX: MQG)

Macquarie has a history of reliable dividend payouts. At the time of writing, it offers a 3.0% dividend yield, 40% franked.

Plato Investment’s Peter Gardner lists Macquarie among his top ASX dividend shares.

“Macquarie has continued to deliver consistent earnings growth and consistent dividends in recent years despite the challenges that have faced the financial services sector. Most recently, it achieved a record profit for the December 2021 quarter,” Gardner says.

“Importantly, it has a lot of cash on its balance sheet, which indicates it can sustainably grow dividends in the foreseeable future.”

Atop its dividend yield, the Macquarie share price has gained around 32% over the past 12 months.

Motley Fool contributor Bernd Struben does not own shares of Macquarie Group Ltd.

Sebastian Bowen: Coles Group Ltd (ASX: COL)

Coles is one of the more visible ASX shares in everyday life. But its large chunk of the mature grocery market has enabled the company to pay out robust dividends, too. And on current pricing, it offers a far-larger dividend than its arch-rival Woolworths Group Ltd (ASX: WOW).

On recent pricing, Coles offers a yield of 3.34%, which, with Coles’ typical full franking credits, grosses up to a healthy 4.77%. In addition, broker Morgans currently rates Coles as an ‘add’, with a 12-month share price target of $19.70. It expects dividend increases over at least the next few years, too.

Motley Fool contributor Sebastian Bowen does not own shares of Coles Group Ltd or Woolworths Group Ltd.

Tristan Harrison: Adairs Ltd (ASX: ADH)

Adairs is a leading homewares and furniture retailer with Adairs, Mocka and Focus on Furniture brands.

The company has multiple strategies to build sales and profit into the future, including growing its store network, upsizing existing stores, growing its membership base, increasing online sales and utilising its new national distribution centre.

Estimates on Commsec show a projected annual dividend per share of 26 cents for FY23. That equates to a forward grossed-up dividend yield of 12.6% at the current Adairs share price.

Motley Fool contributor Tristan Harrison does not own shares of Adairs Ltd.

Mitchell Lawler: Jumbo Interactive Ltd (ASX: JIN)

Jumbo Interactive is an online lottery provider with operations across Australia, the United States, Canada, and the United Kingdom. While it may not be the first ASX share to come to mind for dividends, its 2.3% yield, high levels of free cash flow and growing profits give it some appeal.

Additionally, Jumbo has been taking action to expand its business with great tenacity. In the past year, we have seen the announcement of two acquisitions – Stride in August 2021 and StarVale in January this year.

With both acquisitions expected to be earnings accretive, and Jumbo retaining its dividend payout policy of 85% of statutory net profits, heftier dividends might be inbound in coming years.

Motley Fool contributor Mitchell Lawler owns shares of Jumbo Interactive Ltd.

Aaron Teboneras: Washington H. Soul Pattinson & Co. Ltd (ASX: SOL)

Having listed in 1903, Soul Patts (as it’s commonly referred to) is the second-oldest company on the ASX.

The Australian investment house has a $9 billion portfolio of ASX shares in natural resources, building materials, telecommunications, retail, agriculture, property equity, investments, and corporate advisory.

Major shareholdings include TPG Telecom Ltd (ASX: TPG), Brickworks Limited (ASX: BKW), and New Hope Corporation Limited (ASX: NHC).

Soul Patts has consistently rewarded shareholders with dividends for the last 40 years. Its most recent interim dividend increased by 11.5% to 29 cents.

In fact, this ASX dividend share holds the record for the most consecutive annual dividend increases, having boosted its payout every year since 2000.

Motley Fool contributor Aaron Teboneras does not own shares of Washington H. Soul Pattinson & Co. Ltd, TPG Telecom Ltd, Brickworks Limited, or New Hope Corporation Limited (ASX: NHC).

James Mickleboro: Elders Ltd (ASX: ELD)

Elders is an agribusiness company that provides a range of services to rural and regional customers across the Australia/New Zealand region. These include livestock, real estate, feed and processing, wool agency services, and financial planning and grain marketing services.

After a very difficult period during the 2010s, Elders has bounced back strongly in the 2020s following a highly successful transformation plan and the game-changing acquisition of Australian Independent Rural Retailers.

The team at Goldman Sachs is positive on the company’s outlook and has a conviction ‘buy’ rating and a $17.65 price target on Elders shares.

As for dividends, the broker expects dividends per share of 45 cents in FY2022, 47 cents in FY2023, and then 52 cents in FY2024. Based on the current Elders share price of $13.09, this implies yields of 3.4%, 3.6%, and 4%, respectively.

Motley Fool contributor James Mickleboro does not own shares of Elders Ltd.

The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended ADAIRS FPO, Brickworks, Goldman Sachs, Jumbo Interactive Limited, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia owns and has recommended ADAIRS FPO, Brickworks, COLESGROUP DEF SET, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Elders Limited, Jumbo Interactive Limited, Macquarie Group Limited, and TPG Telecom Limited. 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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