There have been some significant declines in the share prices of some ASX dividend shares. This could be a great time to invest because of the dividend yields on offer.
I like it when a share price declines because it pushes the dividend yield higher. For example, if a business has a dividend yield of 5% and the share price drops 10%, then the dividend yield becomes 5.5%. A 20% decline unlocks a 20% dividend yield. And so on.
Both of the ASX dividend shares below have a promising future, in my view.
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Centuria Capital Group (ASX: CNI)
Centuria is one of the largest property fund managers in Australia, giving the business significant exposure across a range of property sectors, including industrial and office.
As the chart below shows, the Centuria share price has fallen by around 20% since 29 August 2025, making it significantly cheaper for investors.
The business has provided guidance that expects to generate operating earnings per share (OEPS) of 13.4 cents, representing growth of 10% year over year. This means the business is trading at 14x FY26's operating earnings.
The ASX dividend share is also expecting to pay a distribution to investors that equates to a distribution yield of 5.4%, at the time of writing, which I think is a solid start for passive income investors.
Centuria is aiming for at least $1 billion of real estate transactions in FY26, as well as expanding its real estate finance with new products and capital sources. Additional revenue is expected through its AI-related investments as well. All of this is expected to drive earnings growth.
I think the business has a very promising future, and this is a good time to invest.
Nick Scali Ltd (ASX: NCK)
This ASX dividend share is one of the larger furniture retailers in Australia. The business has the Plush and Nick Scali businesses in Australia, as well as the relatively new UK operations.
The Nick Scali share price is down around 25% since 11 February 2026, as shown in the chart below. This could be an exciting opportunity to invest in the company.
The business reported a good level of growth in the FY26 first-half result. In the first six months, ANZ revenue rose 13.1% to $251.7 million, and underlying ANZ net profit jumped 29.4% to $46.6 million.
UK revenue declined 38.5% to $17.6 million, while the underlying UK net loss worsened by 100% to $5.6 million.
Total revenue grew 7.2% to $269.3 million, overall underlying net profit increased 23.1%, and the dividend per share was hiked by 30% to 39 cents per share.
We shouldn't read too much into the UK numbers because there were numerous store closures for lengthy periods because of store refurbishments. UK sales orders increased by 12.8%, which bodes well for future growth.
Additionally, the UK gross profit margin increased to 59.2%, significantly above last year's gross profit margin of 45.1%.
A number of new UK stores are currently in negotiations, with a "strong focus on growing the store network".
Trading looks positive for the second half of FY26 – ANZ written sales orders for the month of January increased by 3.1% year over year. A further five new stores are confirmed for ANZ during the year, with additional opportunities currently being reviewed.
In the UK, the majority of the store refurbishment program is now complete, and it has seen an improvement. Total January written sales were $6.7 million. Four Nick Scali-branded stores that were trading in January FY25 achieved like for like sales growth of 32% in January FY26, which bodes well for the foreseeable future.
The forecast on CMC Invest suggests the business could deliver an annual dividend per share of 84 cents in FY27. That would translate into a grossed-up dividend yield of 6.5%, including franking credits, at the time of writing.
