With ASX earnings season in full swing, it's a great time to scour the share market for passive income investments. Whenever an ASX dividend share reports its latest earnings, it also tends to reveal the next dividend pay cheque that investors can expect.
Last week, we heard from two ASX 200 blue-chip shares in this manner. In my view, both of these shares have dividends that suggest they could make for fantastic long-term passive income investments.
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Two top ASX dividend shares to buy for passive income right now
Telstra Group Ltd (ASX: TLS)
Telstra has long been one of my top picks for passive income on the ASX. This telco offers an established business model and wide economic moats in the form of Telstra's strong brand and superior national mobile network.
It also offers a highly defensive earnings base. In our modern world, I think there are plenty of goods and services customers would be willing to give up in tough economic times before their mobile phones and internet connections.
Telstra has long been known for its passive-income chops thanks to its habit of paying large dividends. Last week's earnings report from Telstra did nothing to dent that reputation. The company announced that its interim dividend for 2026 would come in at 10.5 cents per share. Unusually for Telstra, it will only come 90.5% franked. But even so, passive income investors would have been pleased with this 10.5% dividend hike.
Telstra shares are currently (at the time of writing) trading on a dividend yield of 3.91%.
Medibank Private Ltd (ASX: MPL)
Next up, we have private health insurer Medibank Private. I think Medibank Private is another defensive stock worth considering for anyone looking for passive income in the share market today.
Medibank is the largest and most dominant private health insurer in Australia, enjoying significant market share through both its Medibank Private and budget-friendly ahm brand. As there are several government policies that encourage Australians to buy private health insurance, I tend to think of Medibank as another stock with a defensive earnings base.
Medibank's earnings from last week also contained good news for dividend investors. The company unveiled a 6.4% increase to its interim dividend, with investors to receive an 8.3 cents per share dividend as the company's first 2026 passive income payment. This dividend will come with full franking credits attached to it.
Medibank shares are currently trading on a dividend yield of 4.13%.
