Income investors are always scanning for reliable ASX dividend shares. But finding stocks that offer both high yield and growth potential? That's where things get trickier.
Two ASX dividend shares stand out right now: Perpetual Ltd (ASX: PPT) and Shaver Shop Group Ltd (ASX: SSG). Both deliver attractive yields around 7%, and brokers see meaningful upside ahead.
Let's take a closer look.
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Perpetual: Sharpen execution, unlock value
Perpetual is a well-known financial services group, operating across asset management, wealth management, and corporate trust. But the ASX dividend share is undergoing a major shift.
Last week, the company announced the $500 million sale of its wealth business to Bain Private Equity. The move is all about simplification. By narrowing its focus, Perpetual aims to sharpen execution and unlock value.
Management of the ASX dividend share says proceeds will be used to reduce debt and invest in organic growth across its remaining divisions. That's a positive signal for dividend sustainability.
Perpetual has a long-standing reputation in funds management and a solid institutional footprint. The business is becoming leaner, which could improve margins over time.
However, earnings can be sensitive to market movements. Funds under management can fluctuate, and execution risk remains as the company reshapes itself.
This ASX dividend share shines when dividend payouts come into play. Analysts at Macquarie expect a 7% dividend yield this financial year, easing slightly to 6.7% in FY27 and 6.4% in FY28. That's still comfortably above market averages.
And there's potential capital upside too. Macquarie has a bullish price target of $24.60 on the ASX dividend share. The broader consensus sits at $20.32, about 26% above current levels.
Shaver Shop Group: Strong niche, growing online sales
Shaver Shop is one of the region's leading retailers of personal grooming products. Think electric shavers, clippers, trimmers, and wet shave essentials. It operates 126 stores across Australia and New Zealand, alongside a growing online channel.
This is a steady, cash-generative retail business. Grooming products tend to have repeat demand, and Shaver Shop has built a strong niche. Its online sales are also gaining traction.
Recent numbers back that up. In the second half of FY26 to 22 February 2026, total sales rose 3.8%, while online sales jumped 12.7%. That kind of growth can support future earnings — and dividends.
Like all retailers, this ASX dividend share is exposed to consumer spending cycles. Cost pressures and competition could also weigh on margins.
Shaver Shop has an impressive dividend track record. It increased its dividend every year from 2017 to 2023, held steady in 2024, and nudged it higher again in FY25.
Right now, the stock offers a grossed-up yield of 10.7%, including franking credits. That's exceptionally high.
And it's not just about income. Analysts see upside in the share price too, with an average target of $1.71. That's a 29% upside at current levels.
The bottom line
Perpetual and Shaver Shop tick two key boxes: strong passive income and growth potential.
They're not risk-free. No dividend stock ever is. But with yields around 7% or higher and double-digit upside on offer, both are worth a closer look for income-focused investors.
