If I were looking to buy ASX dividend shares with $3,000 the next time the ASX is open, there are two stocks that stand out to me as great buys.
One of the businesses I will discuss is a defensive real estate investment trust (REIT) that provides exposure to farmland.
The other business is a US-based fund manager with an impressive track record and a big dividend yield.
These investments aren't risk-free, but I think both have very appealing dividend yields and are too attractively valued to ignore.
GQG Partners Inc (ASX: GQG)
GQG shares are currently my favourite ASX dividend share pick for a double-digit dividend yield.
The business is a US-headquartered fund manager that offers equity strategies across US shares, global shares, non-US global shares and emerging market shares. Each strategy can point to long-term outperformance of its respective benchmark.
Good investment returns can bring multiple benefits for a funds management business. It delivers pleasing organic growth for the funds under management (FUM), it helps retain existing client money, and can attract new net inflows.
Pleasingly, GQG is seeing more than US$1 billion of net inflows each month, which is a strong tailwind for FUM combined with the investment performance.
FUM growth is the main driver of GQG's revenue, profit and dividend.
Macquarie expects the business to pay an annual dividend per share of US 16.4 cents in FY26. That translates into a forward dividend yield of 11% and it's trading at 8x FY26's estimated earnings.
Rural Funds Group (ASX: RFF)
Rural Funds is one of my favourite REITs because of how integral farmland is for humanity.
The business currently has exposure to multiple types of farms including almonds, macadamias, vineyards and cattle. I also view this ASX dividend share as defensive because it has long-term rental contracts with tenants. It had a weighted average lease expiry (WALE) of 13 years as of the FY25 half-year result.
Some of its tenants include Olam, JBS, Select Harvests Ltd (ASX: SHV), Australian Agricultural Company Ltd (ASX: AAC) and Treasury Wine Estates Ltd (ASX: TWE).
The business has a strategy to preference agricultural sectors where low-cost production assets that can be acquired or developed to improve productivity and convert to higher and better use.
It hasn't cut its distribution since its inception more than a decade ago and it's expecting to pay a distribution equivalent to a distribution yield of 6.6% in FY26. It's also trading at a discount of more than 40% to its stated underlying value, being the adjusted net asset value (NAV).
With contracted rental increases built into its leases, the business could see ongoing rental profits in the next few years, particularly amid falling interest rates. This could help boost the ASX dividend share's distribution.
