As a working parent, I often find comfort in the phrase "rain or shine" when planning my kids' after-school activities or holiday camps. It means I don't have to worry about unpredictable weather conditions.
Now, imagine having that same level of reliability with your dividend shares. With that in mind, I've done the initial screening for you and compiled a list of ASX companies that have consistently increased their annual dividends for the past decade, come rain or shine.
Here are ten ASX shares that have demonstrated this remarkable level of dependability over the past ten years.
Which ASX shares made the cut?
In this screening process, I have used a number of selection criteria as follows:
- Companies that have raised their dividends per share (DPS) every year since FY15
- Market capitalisation of at least $300 million
- Dividend yield of at least 1% based on the current share price
All the data is based on S&P Capital IQ. The dollars refer to Australian dollars (AUD) except for Fisher & Paykel Healthcare Corporation Ltd (ASX: FPH) in New Zealand dollars and for CSL Ltd (ASX: CSL) in US dollars.
Let's see which ASX dividend shares made it to the Hall of Fame. The table is sorted by the highest dividend yield.
| Ticker | Company name | Share price (AUD) | Market cap ($ mn) | Dividend yield (%) | DPS FY15 | DPS TTM* |
|---|---|---|---|---|---|---|
| ASX:APA | APA Group | 8.4 | 10,819 | 6.6% | $0.38 | $0.56 |
| ASX:SHL | Sonic Healthcare Ltd | 26.3 | 12,630 | 4.0% | $0.70 | $1.05 |
| ASX:CHC | Charter Hall Group | 12.6 | 5,934 | 3.5% | $0.24 | $0.44 |
| ASX:SDF | Steadfast Group Ltd | 5.5 | 6,090 | 2.9% | $0.05 | $0.16 |
| ASX:SOL | Washington H Soul Pattinson & Company Ltd | 32.9 | 11,861 | 2.8% | $0.50 | $0.91 |
| ASX:BKW | Brickworks Limited | 27.2 | 4,143 | 2.4% | $0.45 | $0.66 |
| ASX:NST | Northern Star Resources Ltd | 13.4 | 15,403 | 2.3% | $0.05 | $0.31 |
| ASX:CAR | CAR Group Limited | 35.4 | 13,359 | 1.9% | $0.34 | $0.67 |
| ASX:FPH | Fisher & Paykel Healthcare | 28.9 | 17,969 | 1.3% | $0.14 | $0.42 |
| ASX:CSL | CSL Ltd | 293.7 | 141,931 | 1.3% | $1.24 | $2.48 |
APA Group (ASX: APA) tops the list in terms of the dividend yield, offering a 6.6% yield. The energy infrastructure operator could be a good addition for your retirement due to its defensive earnings and long track record of growth, as my colleague James pointed out.
My favourite is insurance broker Steadfast Group Ltd (ASX: SDF) whose share prices fell approximately 10% from its highs in May for its strong business fundamentals as the largest general insurance broker network in Australia.
Down the list, of course, I wouldn't expect anything less from well-loved dividend duo Washington H Soul Pattinson & Company Ltd (ASX: SOL) and Brickworks Limited (ASX: BKW). Both companies were also part of our team's picks for ASX dividend shares for June.
Can they keep on increasing dividends in the future?
While past performance is never a guarantee of future results, many companies on this list have demonstrated strong financial health, consistent earnings growth, and sound management practices.
These factors often contribute to their ability to sustain and potentially grow dividends. Additionally, many of these companies operate in resilient industries with steady demand, further supporting their capacity to reward shareholders.
While future dividends are not guaranteed, this list could be a good starting point for further research.
