ASX dividend stocks can be a great source of cash flow for our bank accounts. While higher dividend yields can be seen as riskier, certain businesses can provide a high level of passive income.
I'm going to highlight businesses with high dividend yields that I think have a good chance of increasing their payouts in the short- and long-term.
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Shaver Shop Group Ltd (ASX: SSG)
Shaver Shop is a leader in Australia and New Zealand in retailing hair removal products across its 125 stores. It sells items such as electric shavers, clippers, trimmers, and wet-shave items. It also sells a range of products across the oral care, hair care, massage, air treatment, and beauty categories.
The company's market prominence has enabled it to offer exclusive products from certain suppliers, giving it a unique selling point for customers.
The ASX dividend stock is looking to grow its profits by opening new stores, offering a wider range of beauty and self-care items, selling more online, and growing its own brand, Transform-U. A recovery in overall Australian consumer spending could also help improve profit.
It increased its annual dividend per share each year from 2017 to 2024. It maintained the dividend per share in FY24 and then grew the payout again to 10.3 cents per share in FY25. At the time of writing, this translates into a grossed-up dividend yield, including franking credits, of 9.6%.
I expect it will increase the payout again by another 0.1 cent per share in FY26, which would give the business a grossed-up dividend yield, including franking credits, of 9.7%.
Chartre Hall Long WALE REIT (ASX: CLW)
This business is a real estate investment trust (REIT) that owns a vast portfolio of commercial properties across Australia.
It has deliberately built its portfolio to include properties on long-term leases with tenants. It had a weighted average lease expiry (WALE) of around 9 years at June 2025, providing investors with long-term stability.
I like how the ASX dividend stock has built its portfolio to include a number of sectors, including pubs and hotels, Bunnings properties, telecommunications exchanges, grocery and distribution centres, food manufacturing and more.
In a move that's good for the distribution yield, it pays out 100% of its operating earnings each year. It's expecting to pay a distribution per unit of 25.5 cents in FY26 – an increase from 25 cents per unit in FY25. The projected payout translates into a distribution yield of 6.4%.
Another benefit of the passive income from the ASX dividend share is that payments are delivered quarterly, providing investors with a steady stream of income throughout the year.
While these aren't the only two high-yield names, they're two I expect to increase the payout in FY26.
