ASX dividend stocks are capable of producing excellent levels of cash flow for investors. In-fact, investing $3,500 across the three names I'm going to highlight could unlock $331 of annual passive income in 2026 and beyond.
Certain businesses are able to produce very big dividend yields thanks to a mixture of a generous dividend payout ratios and low valuations. While consistent dividends aren't guaranteed, I think it looks like the following businesses can continue delivering large payouts.
Shaver Shop Group Ltd (ASX: SSG)
Shaver Shop is an underrated retailer, in my view. It wants to be the leader of male and female hair removal, selling products like electric shavers, clippers, trimmers and wet shave items. It also sells items from the oral care, hair care, massage, air treatment and beauty categories.
The ASX dividend stock has increased its payout in almost every year since 2017, aside from when it maintained the payout in 2024.
The Shaver Shop share price is trading at less than 13x FY25's earnings, with a current grossed-up dividend yield of 10.2%, including franking credits, at the time of writing. I think the company's moves to open more stores and grow its own brand called Transform-U will help its bottom line. I also believe the ASX dividend stock's margins could rise in the coming years thanks to bigger scale and more private brand and exclusive product sales.
Bailador Technology Investments Ltd (ASX: BTI)
Bailador is an investment business that focuses on buying stakes in private technology businesses.
The company is invested across an array of software businesses including hotel management and room distribution, financial advice and investment management, digital healthcare and telehealth, tours and activities booking, volunteer management, AI-enabled property investment, and fitness and wellness.
Bailador looks for a number of characteristics with its targets, including being founder-led, having a proven business model with attractive unit economics, international revenue generation, having a huge market opportunity and the ability to generate repeat revenue.
It aims to provide investors with a dividend yield (excluding franking credits) of 4% of the net tangible assets (NTA). But, due to the fact that it's trading at a discount of around 40% to the November 2025 pro-forma NTA of $1.98, at the time of writing, it has a dividend yield of 6.6% or 9.4% including the franking credits.
Centuria Office REIT (ASX: COF)
The office sector has struggled over the last few years because of the impacts of working from home and higher interest rates. To me, it's not a surprise that the Centuria Office REIT unit price has dropped over 50% since September 2021.
However, I think there are signs that the business could be undervalued, while providing pleasing levels of passive income. For starters, it's trading at a discount of more than 30% to the stated NTA of $1.67 at 30 June 2025.
The ASX dividend stock's fund manager Belinda Cheung said in August:
COF continues to execute its strategy through active leasing as well as asset and capital management initiatives. Despite this, the office leasing momentum remains fragmented across Australian office markets and, accordingly, the FY26 FFO guidance range takes into consideration anticipated downtime and lease-up assumptions for existing vacancy and pending expiries across COF's portfolio.
Looking ahead, higher replacement costs and office withdrawals for alternate-use conversion is expected to stem future supply and reduce the market size to rebalance office markets, reducing future vacancy rates. COF's portfolio is well positioned to benefit from these future tailwinds.
It expects to pay a distribution of 10.1 cents per unit in FY26, translating into a potential distribution yield of 8.8%, at the time of writing.
Across the three businesses I've mentioned, they have an average yield of close to 9.5%. With investments totalling $3,500, that translates into annual passive income of $331, which is a rewarding starting point.
