Not all ASX dividend shares are built to last.
By this, I mean that some of today's high-yielding stocks likely won't be nearly as rewarding for passive income investors 10 years down the road.
While the future is inherently uncertain, below we look at three magnificent S&P/ASX 200 Index (ASX: XJO) dividend shares I think you'll be glad to own today and hold onto for the next decade.
Speaking of the future, do note that the yields you generally see quoted are trailing yields. Future yields may be higher or lower depending on a range of company-specific and macroeconomic factors.
With those macroeconomic variables in mind, you'll see that all three of the stocks below operate in very different sectors. That should help reduce the risk of your passive income stream taking a big hit if a particular sector comes under short-term pressure.
With that said…
Three magnificent ASX dividend shares for decades of passive income
The first magnificent ASX dividend share I think you'll be glad to own for the next 10-plus years is ANZ Group Holdings Ltd (ASX: ANZ).
ANZ's track record of making two annual dividend payments a year stretches back more than a decade.
Over the past year, the ASX 200 bank paid a partly franked final dividend of 94 cents a share on 22 December and an interim dividend of 83 cents a share on 1 July.
That equates to a full-year payout of $1.77 a share.
At yesterday's closing price of $29.24, ANZ stock trades on a partly franked trailing dividend yield of 6.1%. The ANZ share price is up just over 12% in 2024.
Moving on, our second magnificent ASX dividend share is Woodside Energy Group Ltd (ASX: WDS).
Unlike ANZ, the Woodside share price has been under pressure in 2024, down almost 11%. While shares could slip further, I think the retrace offers an attractive long-term entry point for passive income investors.
On that income front, Woodside paid a fully franked interim dividend of $1.243 a share on 28 September. The ASX 200 energy stock paid the final dividend of 91.7 cents a share on 4 April.
That works out to a full-year payout of $2.16 a share. At yesterday's closing price of $28.02, Woodside stock trades on a fully franked trailing dividend yield of 7.7%.
Rounding out the list of our three magnificent ASX dividend shares is electronics retailer JB Hi-Fi Ltd (ASX: JBH).
The JB Hi-Fi share price has been on a tear in 2024, up almost 30%. But I think the company is well positioned to continue growing its share price over the next decade, albeit not at that same blistering pace.
That's partly due to my belief that JB Hi-Fi stands to benefit from the ongoing advancement in artificial intelligence (AI). As our devices get smarter, we'll need to keep replacing them with the latest generation models, after all.
As for those dividends, JB Hi-Fi paid a fully franked final dividend of $1.15 a share on 8 September. The interim dividend of $1.58 a share landed in eligible shareholders bank accounts on 8 March.
That comes out to a full-year payout of $2.73 a share.
At yesterday's closing price of $70.30, this magnificent ASX dividend share trades on a fully franked trailing yield of 3.9%.
