ASX dividend shares have long been a favourite among investors, and for good reason.
Not only do they provide a steady income stream, but reinvesting those dividends can supercharge long-term returns.
Even better, quality dividend shares tend to increase their payouts over time, meaning patient investors could see their yield on cost grow significantly.
For those taking a buy and hold approach, here are three ASX dividend shares that analysts think could reward investors over the next decade. They are as follows:
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Accent Group Ltd (ASX: AX1)
Accent Group is a leading retailer and distributor of footwear and apparel, with brands such as Hype DC, Platypus, Glue Store, and The Athlete's Foot. The company has a strong track record of growth, expanding its store network while also capitalising on the shift to online shopping.
Despite retail sector challenges, Accent has continued to grow its earnings, allowing it to reward shareholders with solid dividends.
The team at Bell Potter believes this trend will continue. It is forecasting fully franked dividends of 13.7 cents per share in FY 2025 and then 15.6 cents per share in FY 2026. Based on its latest share price of $1.77, this equates to attractive dividend yields of 7.7% and 8.8%, respectively.
Bell Potter has a buy rating and $2.75 price target on its shares.
Telstra Group Ltd (ASX: TLS)
Telstra shares have long been a staple of ASX dividend portfolios. As Australia's leading telecommunications provider, it benefits from a dominant position in mobile, broadband, and enterprise services.
The company's growing mobile business, combined with a disciplined approach to cost management, has helped grow earnings and support its dividend payments.
Goldman expects this to continue. The broker is forecasting fully franked dividends of 19 cents per share in FY 2025 and then 20 cents per share in FY 2026. Based on the current Telstra share price of $4.15, this equates to dividend yields of 4.6% and 4.8%, respectively.
The broker has a buy rating and $4.50 price target on its shares.
Universal Store Holdings Ltd (ASX: UNI)
Universal Store is a rising star in the retail space, targeting young consumers with a mix of on trend and affordable fashion. Despite being a smaller company, it has delivered impressive earnings growth, underpinned by strong brand appeal and disciplined expansion.
Unlike many retailers, Universal Store has managed to grow sales and earnings despite the difficult economic environment. As the company expands its footprint and builds its online presence, it could continue to grow both earnings and dividends over the long term.
Bell Potter is very positive on its outlook and is forecasting fully franked dividends of 34.6 cents per share and 36.6 cents per share, respectively. Based on its current share price of $7.59, this equates to dividend yields of 4.6% and 4.8%, respectively.
Bell Potter has a buy rating and $10.50 price target on the ASX dividend share.
