ASX dividend shares can be some of the best ways to unlock a good level of passive income. I want to highlight two businesses that have dividend yields above 6%.
I think some dividend yields can be too high if they're not going to be sustainable payouts for the long-term. I don't want to invest in things where the dividend payout is likely to decline in the coming years.
Of course, dividends are not guaranteed. But, some businesses are more likely to grow their payouts than others. Below are two I'm excited by.
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Dexus Industria REIT (ASX: DXI)
This business is a real estate investment trust (REIT) that invests in industrial property across Australia. The industrial property sector has a low vacancy rate, which is a useful tailwind for rental growth, along with demand growth in areas like e-commerce adoption and data centres.
The ASX dividend share's FY26 payout comes to 16.6 cents per security, representing a distribution payout ratio of 95.4%. I think it's useful to see when a business is retaining some of its profit to invest in future opportunities.
The projected payout comes to a dividend yield of 6.8%. This business looks like a bargain to me because it's trading at a 28% discount to the net tangible assets (NTA) of $3.39 as of 31 December 2025.
The fund manager of the REIT, Jason Weate, said with the HY26 result:
While the industrial sector has continued to normalise, underlying supply-demand fundamentals are solid. Vacancy remains low across core industrial markets, with high land and construction costs putting pressure on pipelines. In the medium to long term, the sector will continue to be supported by a growing population and limited available supply.
In my view, this bodes well for the ASX dividend share's future payouts, particularly if the business can continue its solid mid-to-high single digit rental income growth.
MFF Capital Investments Ltd (ASX: MFF)
The other ASX share I want to highlight is this listed investment company (LIC), which aims to invest in high-quality international businesses with competitive advantages that enable them to grow earnings over the long term.
When a LIC generates strong investment returns over time, they can deliver pleasing and rising dividends for investors. MFF is invested in several of the best, strongest companies that enable the MFF portfolio as a whole to do well.
MFF has increased its regular annual dividend per share each year since FY18, so it has already given investors several years of consecutive dividend growth and it wants to continue that track record.
The business has increased its annual dividend per share by 4 cents in the last couple of financial years and I expect this trend to continue in FY27. That means its potential FY27 could be a grossed-up dividend yield of 6.9%, including franking credits, at the time of writing.
