I think it's always a good idea to look at ASX dividend shares because of how they can add pleasing passive income cash flow to our personal finances.
Share price growth is very useful but that doesn't allow us spend to money unless we sell those shares.
Some people may be counting on their ASX dividend shares to fund living expenses, so I view two of the ones I'll refer to as among the most reliable passive payers on the ASX. The last one is a higher-risk, higher-reward option.
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APA Group (ASX: APA)
APA is one of the businesses with the longest dividend growth streaks on the ASX, having increased its payout every year for the last 20 years.
The business owns a portfolio of energy assets across the sector including gas pipelines, gas processing facilities, gas storage, gas-powered energy generation, solar farms, wind farms and electricity transmission.
Its steadily-rising payouts are funded from its growing cash flow as its portfolio of energy assets expands. It recently announced it's involved in the new Brigalow Peaking Power Plant in Queensland – it will own 80% of the project. APA is targeting 2028 as the year it will be operational, providing firming capacity for peak electricity demand periods, complementing variable renewable energy.
It's expecting to grow its FY26 distribution to 58 cents per security, translating into a forward distribution yield of 6.3%.
Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)
Soul Patts is the ASX dividend share with the longest dividend growth streak, stretching back to 1998, meaning it has increased its annual dividend per share for 27 years in a row.
Its portfolio is invested across a number of areas including telecommunications, resources, swimming schools, industrial property, building products, agriculture, water rights, financial services and plenty of other areas.
The diversification, defensive assets and ongoing expansion of the portfolio have helped the business achieve reliable and ongoing cash flow with which to pay its dividends.
As the business with the most consistent dividend, I think it's a great fit for investors aiming for reliable passive income. I think Soul Patts is as about as reliable as it gets when it comes to Australian dividend payers.
Bailador Technology Investments Ltd (ASX: BTI)
Bailador is an investment business that targets small technology businesses that are growing quickly. In other words, these are some of the most promising companies in Australia today.
In FY25 alone, Bailador reported that its portfolio companies' revenue grew by a (portfolio-weighted) 47%. These tech businesses are from areas like digital healthcare, volunteer management software, hotel management and online accommodation bookings, tours and activities booking software, and several others.
The ASX dividend share targets a dividend yield of 4% compared to the pre-tax net tangible assets (NTA). But, due to the huge discount the share price is trading compared to the NTA, it currently has a dividend yield of 6.6%. Including franking credits, that's a 9.4% dividend yield.
With the ongoing strong revenue growth and the pleasing profit margins, I'm expecting the NTA and dividend payouts can grow over time.
