Small businesses can be just as appealing as a big business for dividends. That's why good ASX dividend stocks can just as easily be ASX blue-chip shares as little-known stocks.
A dividend yield is decided by the dividend payment compared to the share price. A 5% dividend yield can come from any sized business.
The three businesses I'm going to talk about are relatively small but can offer large and resilient dividend payouts.
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Rivco Australia Ltd (ASX: RIV)
Rivco Australia, previously known as Duxton Water, owns a portfolio of water entitlements. These entitlements are vital for the Australian agricultural sector, enabling Rivco to generate lease income on either short or long-term contracts. Over time, the company can benefit from a rise in the value of water entitlements, which may also herald an increase in the potential lease income for the ASX dividend stock.
This business is fairly small on the ASX, with a market capitalisation of $228 million at the time of writing, according to the ASX.
Impressively, the business has increased its annual dividend per share every six months for the last several years. Its latest two payments come to a grossed-up dividend yield of 7.1%, including franking credits.
WAM Microcap Ltd (ASX: WMI)
WAM Microcap is a listed investment company (LIC) focused on investing in the smallest and most exciting companies which could deliver good investment returns.
The investment strategy has clearly worked well because at 31 October 2025, the LIC had delivered an average return per year of 17.6%, before fees, expenses and taxes since inception.
That level of investment return, which is not guaranteed to continue, has enabled the ASX dividend stock to deliver large and growing dividends over its lifetime.
In FY25, it paid shareholders a total annual dividend of 10.6 cents per share, translating into a grossed-up dividend yield of 9.5%, including franking credits.
WAM Microcap has a market capitalisation of $451 million according to the ASX, at the time of writing.
Rural Funds Group (ASX: RFF)
Rural Funds is a real estate investment trust (REIT) that helps give Australians exposure to different sectors of the farming world, such as almonds, cattle, macadamias, vineyards and cropping.
The ASX dividend stock has increased its distribution in a majority of the years of the last decade, with no cuts. It's expecting to maintain its distribution at 11.73 cents per unit in FY26, translating into a forward distribution yield of 6%.
According to the ASX, at the time of writing, Rural Funds has a market capitalisation of $766 million.
With the RBA cash rate lower at the end of this year than the start, I believe the outlook for real estate investments is solid, particularly with Rural Funds' expectations of larger rental income in the coming years.
