3 excellent ASX dividend shares to buy for passive income

Analysts think these shares could be top picks for income investors.

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Key points
  • Centuria Industrial REIT offers defensive assets with strong dividend yields of 4.75% and 5.1% for FY 2026 and FY 2027, supported by high-quality industrial properties.
  • Nick Scali, a furniture retailer expanding into the UK, is expected to deliver fully franked dividend yields of 2.8% and 3.4% over the next two years, indicating growth potential.
  • Universal Store Holdings is predicted to provide dividend yields of 4.2% and 4.65%, backed by brand expansion and a solid online presence.

Are you looking for some ASX dividend shares for your passive income portfolio?

If you are, then it could be worth considering the three shares in this article that analysts rate as buys this month.

Here's what they are expecting from them in the near term:

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Centuria Industrial REIT (ASX: CIP)

The Centuria Industrial REIT could be an ASX dividend share to buy according to analysts at UBS.

It is a pure-play industrial property trust that owns a high-quality portfolio of warehouses, logistics hubs, and distribution centres across Australia.

The broker likes the company due to its defensive assets and long weighted average lease expiry. It believes this positions it to pay dividends per share of 16.8 cents in FY 2026 and then 17.9 cents in FY 2027. Based on its current share price of $3.53, this equates to dividend yields of 4.75% and 5.1%, respectively.

UBS has a buy rating and $3.95 price target on its shares.

Nick Scali Limited (ASX: NCK)

The team at Citi thinks that Nick Scali could be an ASX dividend share to buy now.

The broker believes the furniture retailer is well-placed for growth in the coming years. This is thanks partly to its expansion in the United Kingdom.

Citi expects this to underpin fully franked dividends of 66.6 cents in FY 2026 and then 80.7 cents in FY 2027. Based on its current share price of $23.51, this would mean dividend yields of 2.8% and 3.4%, respectively.

Citi has a buy rating and $24.40 price target on its shares.

Universal Store Holdings Ltd (ASX: UNI)

A third ASX dividend share that analysts are tipping as a buy is Universal Store.

Despite operating in a tough environment, the youth fashion retailer was on form again in FY 2025 and has started the new financial year strongly.

And with the company expanding the footprint of its brands and building its online presence, Bell Potter believes it is well positioned to build on this in the coming years.

The broker expects this to underpin fully franked dividends of 36.8 cents per share in FY 2026 and 41.1 cents per share in FY 2027. Based on its current share price of $8.83, this equates to dividend yields of 4.2% and 4.65%, respectively.

Bell Potter has a buy rating and $10.50 price target on its shares.

Motley Fool contributor James Mickleboro has positions in Universal Store. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Nick Scali and Universal Store. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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