Westpac Banking Corp (ASX: WBC) is paying shareholders a fully franked interim dividend of 77 cents per share today.
For many investors, this is exactly why bank shares are so popular. The major banks regularly return billions of dollars to shareholders through dividends, and these payments can form an important part of a passive income strategy.
Some Westpac shareholders will have elected to use the dividend reinvestment plan, allowing their dividend to buy more shares in the bank.
Others will receive the dividend as cash. That money could be spent, saved, or reinvested elsewhere on the ASX.
For investors wanting to use their Westpac dividends to diversify into other high-quality blue chips, the three shares below could be worth considering.
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Goodman Group (ASX: GMG)
The first ASX blue chip to consider is Goodman.
Goodman gives investors exposure to logistics, industrial property, and data centres across key global markets.
These assets sit behind some of the biggest changes in the economy. Ecommerce needs warehouses close to customers, global supply chains need efficient distribution networks, and cloud computing and artificial intelligence are increasing demand for data centre infrastructure.
That gives Goodman a powerful long-term growth profile.
The company has also built a strong reputation as a developer and manager of complex property assets. This means it is not simply collecting rent from warehouses. It is helping major customers solve infrastructure problems in markets where well-located land can be scarce.
ResMed Inc (ASX: RMD)
Another option for Westpac dividend cash is ResMed.
ResMed is a medical device company focused on sleep apnoea treatment and connected respiratory care.
This gives it exposure to a large medical need. Many people with sleep apnoea remain undiagnosed, while greater awareness of sleep health could support demand for treatment over the long term.
The company's business model also has an attractive recurring element. Patients using its devices often need masks, accessories, software support, and ongoing care. That can create repeat revenue over time and help smooth the business beyond one-off device sales.
Healthcare shares can still be volatile, but ResMed's global market position and long-term demand drivers make it a high-quality blue chip to consider.
Wesfarmers Ltd (ASX: WES)
A third ASX blue chip to look at is Wesfarmers. It owns a collection of strong retail and industrial businesses, including Bunnings, Kmart, Officeworks, and its chemicals, energy and fertilisers operations.
This gives investors exposure to a diversified group with multiple ways to grow.
Bunnings remains one of the strongest retail franchises in Australia, while Kmart has built a powerful position in value-focused retail. These businesses benefit from scale, trusted brands, and a long history of disciplined execution.
Wesfarmers has also shown a willingness to invest in new opportunities and reshape its portfolio over time. That capital allocation track record is one reason investors often view it as one of the ASX's highest-quality companies.
