March is often a key month for income investors. Half-year results are in, dividend forecasts are clearer, and investors can position their portfolios for the rest of the year.
If you are looking to boost your passive income this month, here are three ASX dividend shares that could be worth considering.
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HomeCo Daily Needs REIT (ASX: HDN)
The first ASX dividend share to look at in March is HomeCo Daily Needs REIT.
It owns a portfolio of large-format retail centres focused on non-discretionary and daily needs tenants. These include supermarkets, health services, and essential retailers. That tenant mix tends to deliver more resilient rental income than traditional discretionary shopping centres.
The REIT's long leases and inflation-linked rental increases provide a degree of predictability that income investors often appreciate. In an environment where interest rates are rising and economic growth is mixed, exposure to stable property-backed cash flows can add balance to a portfolio.
With an attractive dividend yield on offer and assets that generate recurring income, the HomeCo Daily Needs REIT could be a solid option for those seeking dependable distributions.
IPH Ltd (ASX: IPH)
Another ASX dividend share to consider in March is IPH.
It operates intellectual property services businesses across Australia, Asia, and North America. It provides patent and trademark services, which are closely tied to innovation and corporate activity.
While earnings can fluctuate with filing volumes, the business benefits from high barriers to entry and established client relationships. In addition, intellectual property protection is not something companies can easily ignore, even in slower economic periods. This makes its earnings relatively defensive.
IPH has historically offered above-average dividend yields. For income investors willing to accept some earnings variability in exchange for higher income potential, it could be worth considering at current levels.
Universal Store Holdings Ltd (ASX: UNI)
A final ASX dividend share to consider this month is Universal Store.
Universal Store is a youth fashion retailer operating across multiple brands. Despite the challenging retail backdrop in recent years, it has continued to generate strong sales and earnings.
The company's multi-brand strategy allows it to target different customer segments while building scale in sourcing and distribution. As consumer conditions stabilise over time, there is scope for earnings growth alongside ongoing dividends.
Importantly, Universal Store's dividend yield has remained attractive relative to many traditional blue chips, giving income investors exposure to retail upside while collecting dividends along the way.
