Earning monthly income from ASX shares can be a good way of making extra cash on the side.
Two ASX communications stocks that pay dividends are Telstra Group Ltd (ASX: TLS) shares and TPG Telecom Ltd (ASX: TPG).
Let's take a look at these two ASX communication stocks and the dividend they pay in more detail.
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Telstra shares
Telstra paid an interim dividend of 8.5 cents per share fully franked in the first half of FY23.
This follows an 8.5 cents per share dividend in the second half of FY22. In total, Telstra has paid 17 cents per share worth of dividends in the last year.
Telstra shares have climbed 0.23% in Friday's trade and are currently fetching $4.33. Telstra shares have jumped 12% in the past year.
Based on the current share price, this means Telstra has paid a trailing dividend yield of just over 3.9%.
Telstra's dividend in the first half of FY23 was 6.3%, more than that paid out in the first half of FY22.
The telco has a policy to "maximise the fully franked dividend and seek to grow it over time".
What about TPG?
TPG paid a fully franked dividend of 9 cents per share in the first half of FY23, on top of 9 cents in the second half of FY22.
This means in the last 12 months, TPG has paid total dividends of 18 cents per share.
The TPG share price has jumped 0.09% today and is now trading at $5.315. TPG shares have lost nearly 11% in the last year.
TPG has therefore paid a trailing dividend yield of about 3.4% to shareholders in the last year.
How much would I need to invest to receive $150 in monthly income?
Firstly, $150 in monthly income equates to $1800 in income for a year.
Looking at both of these shares, the average dividend yield if you invested equally in both would be close to 3.7%.
So, to receive $150 worth of passive income, I would need to invest around $48,648 with 65 cents left over.
If this seems a lot, I could alternatively invest $4,054 per month for 12 months in these two ASX communications stocks.
