ASX shares that pay dividend income are a great place to look if you're after passive income. ASX shares will pay you dividends whether you work or not, whether you are old or young, sick or healthy. But there are hundreds to choose from on the ASX. So which should an investor seeking passive income choose?
When it comes to picking dividend shares, it can be a good idea to look for shares that have a big yield, or else have a strong record of increasing their payouts over a long period of time. Or perhaps even both. So here are three ASX dividend shares worth considering using these criteria today.
Image source: Getty Images
3 ASX dividend shares that can help build passive income
Westpac Banking Corp (ASX: WBC)
Westpac is an ASX share that needs little introduction. It is of course one of the big four major ASX banks in Australia. Westpac is also one of the oldest companies in the country, having started out as the Bank of New South Wales back in 1817.
Westpac's dividends have been recovering nicely since the COVID-induced drought. It is on track to pay out $1.25 in dividends per share this year, which is a nice increase over 2021's $1.18. These dividends come with full franking too. Today, Westpac shares offer a trailing dividend yield of 5.36%.
Washington H. Soul Pattinson and Co Ltd (ASX: SOL)
ASX investing conglomerate Soul Patts is next up. This company is a rather unique one on the ASX. Most of its business involves investing in a portfolio of other ASX 200 shares for the benefit of its shareholders.
Soul Patts' dividend credentials are unbeatable. It is the only ASX share that has a 21-year streak of increasing its annual dividend payments. That is a mighty helpful trait to have in a passive income portfolio. As such, this is another share well worth considering today.
Brickworks Ltd (ASX: BKW)
Brickworks is another ASX 200 dividend share worth a look at. Brickworks, as its name implies, is in the business of providing bricks and other construction materials. But it also has a few other revenue avenues.
It has made a profitable habit out of leasing out unused land after it is finished using it for manufacturing, which often happens to be in great locations. Brickworks also has an investment portfolio as well, dominated by a massive stake in none other than Washington H. Soul Pattinson shares.
Brickworks also has an enviable dividend record to boast of. It has not yet achieved a 21-year streak of annual rises like Soul Patts. But it hasn't cut its dividend in more than four decades. As such, it's an ideal candidate for ongoing passive income today.
Right now, Brickworks shares have a fully franked trailing yield of 2.86%
