Passive income watch: The ASX stocks dishing out the biggest dividend boosts this earnings season

Income investors are delighted with these 9 ASX shares and their boosted dividends this earnings season.

Bronwyn Allen

Author bio Bronwyn has 28 years of experience in journalism, copywriting, and media relations. She began her career as a reporter with News Corporation in Sydney in 1997. She later worked for two real estate corporations in communications and PR roles, then started her own freelance copywriting and publicity business. A keen shares investor, Bronwyn joined the Motley Fool Australia team as a copy editor and writer in June 2021. Areas of expertise ASX shares and ETFs News writing Macroeconomic trends Real estate Education Diploma in Journalism, Macleay College Social media LinkedIn Favorite investment quote "Don't look for the needle in the haystack. Just buy the haystack." — John C. Bogle, Vanguard founder and pioneer of index investing for ordinary investors

Published March 3, 2024 4:00 am AEDT

Income investors love their passive income, so with reporting season almost done, we canvas the boards to identify the ASX stocks that delivered some of the biggest dividend boosts of the season.

All of these companies below delivered a more than 30% increase in dividends this earnings season.

Three women dance and splash about in the shallow water of a beautiful beach on a sunny day. — Image source: Getty Images

9 ASX stocks delivering turbocharged passive income

AGL Energy Limited (ASX: AGL) wowed passive income investors with a 225% increase in its interim dividend for FY24. This followed a 358% profit surge over the first half. The ASX utilities stock will deliver 26 cents per share in unfranked passive income for investors.

Corporate Travel Management Ltd (ASX: CTD) reported a 162% profit bump in 1H FY24. The ASX travel stock is set to pay an interim dividend of 17 cents per share, up 183%.

Inghams Group Ltd (ASX: ING) rewarded shareholders with a 167% dividend increase after reporting a doubling in profit. Inghams will pay a fully franked interim dividend of 12 cents per share, delivering a passive income boost of 167%.

Origin Energy Ltd (ASX: ORG) reported an almost 1,600% skyrocketing in profits in 1H FY24. Origin stock will pay ASX investors a fully franked interim dividend of 27.5 cents per share. That's up 66% on 1H FY23.

QBE Insurance Group Ltd (ASX: QBE) reported doubled profits in FY23. The insurer will pay a final dividend of 48 cents per share, up 60% on FY22.

Australian Ethical Investment Ltd (ASX: AEF) reported a 71% profit improvement. It will pay an interim dividend of 3 cents per share. That's a 50% boost in passive income for its shareholders.

Insurance Australia Group Ltd (ASX: IAG) will once again pay a turbocharged dividend. Despite reporting a 13% profit decline, the insurer boosted its interim dividend by 67% to 10 cents per share.

Fortescue Ltd (ASX: FMG) is known for delivering generous passive income, and the ASX iron ore pure-play did not disappoint this earnings season. The company reported a 41% profit improvement and boosted its interim dividend by 44% to $1.08 per share, fully franked.

Computershare Ltd (ASX: CPU) gave investors a 33% passive income boost this earnings season. The administration services company announced a record margin income for 1H FY24. It rewarded shareholders with an interim dividend of 40 cents per share with 20% franking.

Automatic Renewal

By taking up this offer, you will also be enrolled in our auto-renewal program, which is our way of making your ongoing subscription easier by ensuring uninterrupted service. Don't worry, though – you're not locked in, and can cancel your auto-renewal at any time before each 'anniversary' date without question or penalty.