With the end of the financial year around the corner, many investors will be eagerly awaiting their tax return. Here are some ASX dividend shares to keep an eye on that could turn your tax return into a steady income stream.
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Woodside Energy Group Ltd (ASX: WDS)
Woodside Energy is Australia's largest independent oil and gas company. It is involved in the exploration, development, production, and sale of hydrocarbons, primarily natural gas, crude oil, and condensate.
Not only is it a blue-chip company, but it consistently pays a high dividend yield.
Its share price has fallen 14.14% in 2025. However because of the lower share price, the dividend yield could still be very strong.
According to the forecasts on Commsec, Woodside is forecast to pay a grossed-up dividend yield of approximately 8% in the 2025 and 2026 financial years.
If these projections come true, a $5,000 investment in this ASX dividend share, would total approximately $800, including franking credits over the next two years.
Helia Group Ltd (ASX: HLI)
Helia is Australia's largest provider of Lenders Mortgage Insurance (LMI).
It has already risen 11.71% so far this year, and 24.70% over the past 12 months.
This ASX dividend share paid a fully franked interim dividend of 15 cents per share. It also paid a final ordinary dividend of 16 cents per share. They also paid a fully franked special dividend of 53 cents per share on 3 April.
Based on these figures, an investor with 1,000 units in Helia (totalling an investment of roughly $5,150) would have received:
- $150 from the interim dividend
- $160 from the final ordinary dividend
- $530 from the special dividend
- Total cash received: $840
Vanguard Australian Shares High Yield ETF (ASX:VHY)
Of course breaking down passive income from dividends is fun, but potential investors should also research these companies to see if there is room for share price growth.
Basically, thinking about dividend payments is exciting, but if the company share price is tanking you could be at a net loss.
That's where an exchange traded fund like Vanguard Australian Shares High Yield ETF (ASX:VHY) could be a viable option.
Spreading your investment over a wide range of holdings can offset some risk, while still generating passive income.
It offers exposure to companies listed on the Australian Securities Exchange (ASX) that have higher forecast dividends relative to other ASX-listed companies.
According to the fund, security diversification is achieved by restricting the proportion invested in any one industry to 40% of the total ETF and 10% for any one company.
At the time of writing it includes 69 holdings. This includes blue-chip, high dividend paying companies like Commonwealth Bank of Australia (ASX: CBA) and BHP Group Ltd (ASX: BHP).
At the time of writing the fund offers a dividend yield of approximately 5%.
