5 ASX dividend stocks for passive income investors

Income investors might want to check these shares if they want to boost their portfolio.

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Passive income investors do not need to rely only on the big banks for dividends.

There are plenty of ASX dividend stocks across retail, property, infrastructure, consumer staples, and agriculture that could help generate income over time.

Here are five ASX dividend stocks that could be worth a closer look.

Man holding Australian dollar notes, symbolising dividends.

Image source: Getty Images

Elders Ltd (ASX: ELD)

Elders could be an ASX dividend stock to buy. It is one of Australia's best-known agribusinesses, providing services across rural products, livestock, real estate, financial services, and agency operations.

Its earnings can move with seasonal conditions and farmer confidence, so it is not a defensive dividend stock in the traditional sense. But agriculture remains essential, and Elders has a long-established position in rural Australia.

For income investors willing to accept some cyclicality, it could offer exposure to a sector that is very different from banks, miners, and retailers.

HomeCo Daily Needs REIT (ASX: HDN)

Another ASX dividend stock that could be worth a look is HomeCo Daily Needs REIT.

This property trust owns assets focused on regular household spending and essential services. Its tenants include supermarkets, pharmacies, health services, childcare operators, and large-format retailers.

That tenant mix can make the trust more resilient than property assets tied heavily to discretionary shopping or office demand.

Interest rates and property valuations remain risks. But its focus on convenience and daily needs could support a steady distribution profile for passive income investors.

Super Retail Group Ltd (ASX: SUL)

A third ASX dividend stock to consider is retail conglomerate Super Retail.

It owns brands including Supercheap Auto, Rebel, BCF, and Macpac. This gives it exposure to auto parts, sporting goods, outdoor leisure, and adventure categories.

Retail conditions can be mixed when households are under pressure. But Super Retail has built strong brands in categories where customers can be loyal and repeat purchases matter.  In addition, its scale, store network, and membership programs help support the business.

If Super Retail continues managing costs and inventory well, it could be well-placed to continue rewarding shareholders with big dividends.

Transurban Group (ASX: TCL)

A fourth ASX dividend stock for income investors to consider is Transurban.

It is a toll road operator with assets across major cities in Australia and North America. This includes CityLink in Melbourne, Cross City Tunnel in Sydney, and AirportlinkM7 in Brisbane.

That gives the company a strong position. In many cases, its roads are important parts of daily transport networks, helping people get to work, school, airports, and key business areas.

This can support steady cash flow over time. And that cash flow helps fund the distributions that passive income investors look for.

Woolworths Group Ltd (ASX: WOW)

A final ASX dividend stock to look at is Woolworths.

It is one of Australia's most defensive consumer businesses, with its supermarkets serving millions of shoppers each week.

Groceries and household essentials remain important regardless of the economic backdrop. That gives the company a more stable earnings base than many discretionary retailers.

Together with Woolworths' scale, brand, and supply chain strength, this makes it a dependable name for income-focused investors.

Motley Fool contributor James Mickleboro has positions in Woolworths Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Super Retail Group and Transurban Group. The Motley Fool Australia has positions in and has recommended Super Retail Group, Transurban Group, and Woolworths Group. The Motley Fool Australia has recommended Elders and HomeCo Daily Needs REIT. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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