As Australian interest rates continue to decline, ASX dividend shares are becoming increasingly attractive for investors seeking reliable passive income.
Dividend stock payouts can come annually, quarterly, or, in some cases, even monthly. The beauty of dividends is that they provide investors with a stream of income while the initial investment appreciates over time.
And obviously, because the dividends are paid per share, the more shares you own, the more you earn back.
Dividend shares might seem like a no-brainer, but often it can be difficult to know where to look. While sky-high 10% yields might look very attractive, they often come hand-in-hand with higher risk or a greater chance of volatility.
Meanwhile, stocks with a slightly lower dividend yield, which have been proven to pay out consistently for multiple decades, have the potential to provide long-term growth and stable income.
Here are my two picks for dividend shares that have paid out consistently and over a long period of time.
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Washington H Soul Pattinson & Co Ltd (ASX: SOL)
SOL is often referred to as dividend royalty. It is one of the only ASX dividend stocks that has consistently increased its annual dividend for over 25 years. The company has paid dividends every year since it listed on the ASX in 1903.
The diversified Australian investment house pays its fully-franked dividends twice per year and has offered a consistent yield of 2.3% to 2.4% since 2016. Most recently, it paid investors 59 cents per share in August (with a payment date on 5 September). This brought the total dividend for 2025 to $1.03 per share and gave a yield of 2.35%.
At the time of writing early on Thursday morning, the stock is changing hands 0.85% lower at $44.18 a piece. For the year, SOL's share price has stormed 34.12% higher.
APA Group (ASX: APA)
APA is another dividend-paying favourite. The gas and energy infrastructure pipeline owner and operator has also paid out semi-annual dividends consistently for over 20 years.
The dividend payout has slowly increased from an annual total of around 28 cents in 2009 to 60 cents per share most recently, giving a trailing dividend yield of 6.43%. The shares are currently 21.56% franked.
The APA share price has risen sharply over the past 12 months, up 19.93% for the year. At the time of writing, the shares are changing hands at $8.86 each, up 0.11%.
