I'm always on the lookout for exciting ASX dividend shares that offer investors a steady flow of dividends.
With everything going on in the economic world, particularly with tariffs by the US, Aussies may want to find businesses that can provide defensive and growing earnings, as well as a solid starting dividend yield with good prospects for more growth.
I'm going to look at two ASX defensive shares that can provide resilient earnings in the coming years.
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Propel Funeral Partners Ltd (ASX: PFP)
Propel describes itself as the second-largest private provider of death care services in Australia and New Zealand. The company currently operates from 202 locations, including 40 cremation facilities and nine cemeteries.
In these uncertain times, a business that can keep growing regardless of what happens could be a good call.
Propel says the number of deaths is the most significant driver of revenue in the death care industry. The business said that projections show death volumes are expected to increase by 2.8% per year between 2025 to 2035 and then 2.4% per annum from 2036 to 2045. This could help drive profit and dividend growth for decades.
In the FY25 half-year result, the ASX dividend share reported that funeral volumes rose 8.6% and it delivered organic growth of 2.6% of the average revenue per funeral (ARPF). This contributed to a 12% rise in total revenue, reaching $115.2 million, while operating net profit increased by 21.1% to $12.2 million.
Propel grew its interim dividend by 2.8%, and the last two dividends equate to a grossed-up dividend yield of 4%, including franking credits.
Sonic Healthcare Ltd (ASX: SHL)
Sonic Healthcare is a leading ASX healthcare share that provides pathology services in several countries, including Australia, the UK, Germany, Switzerland, and the US.
People don't choose when they're going to get sick or be injured, so demand for this company's earnings could be resilient.
We saw this consistent growth in the FY25 half-year result, with total revenue rising 8% and organic revenue growth of 6.1%. This helped earnings per share (EPS) increase 15% to 49.2 cents. The board of the ASX dividend share decided to hike its interim payout by 2.3% to 44 cents.
Excluding franking credits, the business has a trailing dividend yield of 4.2%. That's a solid starting point, with a dividend that has increased every year in the last decade.
Further growth could come from the tailwinds of an ageing population, a growing population, and improving health technology to identify ailments.
