The world is a scary place at the moment.
The Reserve Bank of Australia this week raised interest rates yet again, adding tens of thousands of dollars to the annual burden for home loan holders.
Inflation continues to rage, taking the cost of living through the roof.
The war in Ukraine continues, causing bottlenecks in the energy market.
Who knows if Australia or other developed economies might fall into recession. At the very least, consumers and businesses will suffer greatly.
Is this all too much?
In times like these, it could be worth your sanity to buy some "safe" ASX dividend stocks so that you can switch off the news.
So what are the ASX shares that you could lock away, then come back three years later to see how well they have grown?
Here are two suggestions:
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Big but not immobile
Although the mining sector is notoriously cyclical, BHP Group Ltd (ASX: BHP) has managed to smooth out the fluctuations admirably.
Over the past five years, the share price has climbed 38.6%, with it only dipping below the starting point during the COVID-19 crash of March 2020.
This is all while paying out a chunky dividend yield of 8.8%.
The Big Australian has recently shown a willingness to adapt to a changing global environment.
In 2021, it sold off its oil and gas business to Woodside Energy Group Ltd (ASX: WDS). At the same time, BHP flagged its intention to focus on minerals that are critical to the global transition to zero carbon emissions.
This year it completed a takeover of major copper producer Oz Minerals, which will cash in from demand for the mineral in electronics and batteries.
With China ramping up its economy after three years of harsh COVID-19 lockdowns, BHP could continue to enjoy robust demand for its products.
BHP shares closed Tuesday at $43.63 apiece.
Morgans, Goldman Sachs, and Macquarie analysts all have price targets in excess of $50 for the mining giant.
Dividend increased every year for 23 years
Washington H Soul Pattinson and Co Ltd (ASX: SOL), at 2.5%, doesn't have a stunning dividend yield to speak of.
But its adaptability and track record of increasing dividends makes it an attractive proposition.
In fact, the market has recognised this, with the share price recently hitting 52-week highs.
As an investment company, Soul Pattinson can switch up its investments to whatever looks attractive at any given time. More than once, experts have described the business as Australia's answer to Warren Buffet's company Berkshire Hathaway Inc (NYSE: BRK.A).
Impressively, Soul Pattinson has hiked its dividends each year since the year 2000. That's through the dot-com crash, the global financial crisis, and the COVID-19 pandemic.
Shaw and Partners portfolio manager James Gerrish is one expert who would still buy Soul Pattinson at current levels due to its 37% ownership of New Hope Corporation Limited (ASX: NHC).
"We would be accumulating Soul Pattinson now if we were looking for some additional quasi-coal exposure."
