Like every other year I've had the capacity to invest, I will be buying up ASX dividend shares in 2024. I love the secondary income that ASX dividend shares can provide. Not to mention the wealth-building magic that comes with holding income-producing assets.
But the ASX is awash with potential candidates to choose from. So which to go with? Here are two ASX- dividend shares that I have at the top of my acquisition list in 2024.
2 ASX dividend shares I'm buying in 2024
Coles Group Ltd (ASX: COL)
Coles has been on my dividend watchlist for a while. 2024 might finally be the year that I bite the bullet and buy a share of this famous Australian grocer.
Everyone knows Coles, and most of us probably shop there fairly regularly. I like this business for its consumer staples nature, which makes the company a very defensive investment. Coles sells food, drinks and other household essentials.
Regardless of the economic weather, we have to continuously buy these products. That's regardless of whether there is a recession or an economic boom and if inflation is high or low.
As such, I'd feel very comfortable holding some of my wealth in this ASX 200 dividend share. On the dividend front, Coles offers an attractive and fully franked yield of 4.2% at current pricing.
Plato Income Maximiser Ltd (ASX: PL8)
Another dividend share I might be buying up in 2024 is this listed investment company (LIC). I've already initiated a position in Plato shares. But I'm hoping to build that out even further over the coming 12 months.
Plato aims to provide its investors with a consistent stream of dividend income. Unlike most dividend shares, the income from this company arrives every single month. It does this by holding a diversified portfolio of other ASX dividend shares.
I'm normally wary of investments that solely focus on providing income. However, in Plato's case, I've made an exception given this company's impressive track record.
Over the past three years, investors have enjoyed an average return (including dividends and franking) of 9.2% per annum (as of 30 November). That compares to an 8.7% per annum return from its ASX 200 benchmark.
Right now, Plato shares are trading with a dividend yield of 5.5%. That yield alone is enough to make me excited to buy up more shares this year.
