I'm purposefully building my portfolio with a focus on growing ASX dividend shares, and there are a few in which I have a significant position.
The two I'm going to highlight are ones I have a double-digit allocation to (in percentage terms).
I expect the second ASX dividend share, if not both, will remain as large holdings for decades to come.
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MFF Capital Investments Ltd (ASX: MFF)
This business is best known as a listed investment company (LIC) – I have liked this business and written about it for almost a decade. There's still a lot to like for dividend investors.
Firstly, it provides exposure to high-quality businesses from across the world, which should mean it can benefit from long-term compounding of earnings. MFF wants to invest in a portfolio of competitively advantaged businesses while avoiding permanent capital loss.
The investment returns have allowed the business to deliver impressive capital growth. Over the past five years, the MFF share price has risen by around 70%, excluding dividends. The total shareholder return (TSR) has been an average of 14.9% per year over the past five years.
One of its other main goals is to grow the dividend.
The ASX dividend share has increased its annual regular dividend each year over the past several years. It's expecting to increase its annual payout to 21 cents per share in FY26. I wouldn't be surprised to see the payout rise to at least 23 cents in FY27.
But the guided FY26 payout translates into a grossed-up dividend yield of 6.5%, including franking credits, at the time of writing.
I expect to buy more of this ASX dividend share in the coming weeks, particularly if it stays at around the current valuation.
Washington H. Soul Pattinson and Co Ltd (ASX: SOL)
Soul Patts is the largest position in my portfolio, and I'm planning to buy more if the share price dips.
The investment conglomerate has proven itself yet again during the last month as a leading business for stability. Since the end of February 2026, the Soul Patts share price has risen by 7%, compared to a fall of more than 6% by the S&P/ASX 200 Index (ASX: XJO).
I think one of the key reasons for this performance has been its large stake in ASX energy share New Hope Corporation Ltd (ASX: NHC), which has risen more than 20% since the end of February 2026.
But the ASX dividend share is invested in a variety of other defensive industries, including swimming schools, telecommunications, agriculture, water entitlements, and industrial properties.
Together, its portfolio can provide resilient cash flow, enabling the business to generate stable profit and pay a consistent (and growing) dividend.
It's impressive to think that the business has increased its regular annual dividend per share every year for 28 years in a row. The company has also paid a dividend each year since it listed more than 120 years ago.
I think the business is on course for a very compelling future as its portfolio continues to evolve and find greater investment opportunities. At the time of writing, it has a grossed-up dividend yield of 3.7%, including franking credits.
