ASX dividend stocks that pay out to investors every month are quite rare on the ASX. But there are still a few options for investors to consider if receiving monthly passive income paycheques is a priority.
We've written extensively on a number of these here at the Motley Fool, ranging from Plato Income Maximiser Ltd (ASX: PL8) to Metrics Master Income Trust (ASX: MXT).
But today, let's discuss the BetaShares S&P Australian Shares High Yield ETF (ASX: HYLD). This exchange-traded fund (ETF) is specifically designed to cater to the needs of income-hungry investors. One of those caterings is a monthly dividend policy.
Like most ASX ETFs, HYLD holds an underlying portfolio of assets. In this case, those assets consist of a portfolio of around 50 ASX shares. These 50 shares are selected using screens that assess a company's dividend history, as well as its perceived ability to continue to afford to pay out substantial income to shareholders.
According to the provider, some current holdings in HYLD's portfolio include ANZ Group Holdings Ltd (ASX: ANZ), Rio Tinto Ltd (ASX: RIO), Wesfarmers Ltd (ASX: WES), Macquarie Group Ltd (ASX: MQG), Woodside Energy Group Ltd (ASX: WDS) and Telstra Group Ltd (ASX: TLS).
The BetaShares S&P Australian Shares High Yield ETF is a relatively new fund, having started ASX life back in August of 2025. Even so, we can get a good grasp of the kind of income investors can expect from HYLD.
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An ASX monthly dividend stock with a 4.6% yield?
Starting from 16 September, this dividend stock has kept to its creed and paid out a monthly dividend distribution. The four dividends that investors have received since then have each come in at 11.92 cents per unit. These dividends only usually come with partial franking credits attached. This reflects the varied nature of HYLD's portfolio.
If we annualise that monthly dividend of 11.92 cents per unit, we get a figure of $1.43 in dividend distributions per unit. At the current HYLD unit price of $31.14 (at the time of writing), that gives this ASX dividend stock an annualised dividend yield of 4.59%.
Of course, investors should not take that figure to the bank. No ASX dividend stock is obliged to pay out future dividends at past levels. And HYLD only had a few months of performance for investors to evaluate.
But even so, income investors who value monthly paycheques could arguably do worse than taking a deeper look at this ASX dividend stock.
The BetaShares S&P Australian Shares High Yield ETF charges a management fee of 0.25% per annum.
