Finding safe ASX 200 dividend stocks on the ASX is something of a Holy Grail for ASX income investors. We all know that dividend shares on the S&P/ASX 200 Index (ASX: XJO) can provide a yield that is higher than what cash investments can offer.
But a dividend share fundamentally lacks the safety that a term deposit or a savings account can offer. No ASX share can offer true safety of income.
But let's see how close we can get to true safety by checking out three of the most consistent dividend payers the ASX has to offer.
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3 of the safest ASX dividend stocks in Australia
Washington H Soul Pattinson and Co Ltd (ASX: SOL)
Washington H. Soul Pattinson, or Soul Patts for short, was always going to make this list. That's by virtue of its unrivalled dividend track record on the ASX. This diversified investment company has increased its annual dividend payments every single year since 2000.
Yes, through the dot-com bust, the global financial crisis, and more recently, the COVID pandemic.
No other ASX share can even come close to matching this record, making this company one of ASX's safest dividend stocks. Soul Patts shares offer a fully franked dividend yield of 2.5% at recent pricing.
Brickworks Limited (ASX: BKW)
ASX 200 construction materials company Brickworks is another ASX dividend stock to consider if you're searching for safe income. Brickworks has a diversified earnings base, consisting primarily of its business of selling bricks and other construction supplies. But Brickworks also has a burgeoning property portfolio, as well as significant investments in other shares, namely Soul Patts by coincidence.
This has enabled the company to either maintain or increase its dividend every year for more than four decades. It doesn't quite have the clockwork-like bonafides of Soul Patts. But it still comes pretty close, making it one of the safest income shares on the market.
Brickworks currently has a fully-franked dividend yield of 2.6% on the table.
Commonwealth Bank of Australia (ASX: CBA)
CBA is one of the ASX 200's most famous dividend stocks. While it doesn't quite have the near-flawless dividend track records of the above two shares, I feel it still merits inclusion in this list due to the popularity of the big four ASX bank shares for income investors.
Looking at the other big four members, CBA's dividend record arguably shines out as one of the most impressive. Between 2009 and 2019, CBA raised its annual dividend every year, with the exception of the 2016 dividend, which was flat at 2015's levels.
CBA's payouts took a big hit during the COVID-ravaged 2020. But its dividends have been building back with a vengeance, with the bank giving investors big dividend hikes in both 2021 and 2022.
Last year, CBA doled out a total of $3.85 in fully-franked dividends per share, giving CBA a trailing yield of 3.46% today.
