1 ASX dividend stock down 18% I'd buy today!

This ASX dividend stock crashed through 2022 to 2025. But it looks like it has turned a corner this year.

When it comes to ASX dividend stocks, IPH Ltd (ASX: IPH) is a long-term high-yielding player.

At the time of writing, IPH shares are up around 1% and changing hands for $4.14 a piece.

The ASX dividend stock has performed well so far in 2026, climbing over 15% year to date. The share price has also rebounded an impressive 30% since hitting an all-time low of just $3.19 per share in March this year.

It hasn't all been smooth sailing, though. The company has faced significant headwinds over the past few years, which have sent its share price crashing.

These include, underperformance by its Australia and New Zealand segments, concerns about transition to a new CEO, a declining volume of US patent filings, and currency volatility.

Since October 2022, when IPH shares spiked close to an all-time high of $9.22 a piece, they began a consistent and relentless tumble through to the end of 2025.

The most significant crash followed the company's FY25 results in mid-August last year, when the share price fell 20% in just one day. 

So, while the year-to-date share price gains are impressive. Over the past 12 months, IPH shares are still down around 18%. 

Some investors might be put off by the falling share price and company headwinds. But I think the latest share price crash presents a rare opportunity to buy the high-yielding ASX dividend stock for cheap.

Here are three reasons why.

Person handing out $100 notes, symbolising ex-dividend date.

Image source: Getty Images

1. IPH has paid a reliable and consistent high-yield dividend

The ASX dividend stock has paid a regular semi-annual dividend payment to shareholders for years. IPH started paying a dividend to investors in 2016 and has gradually increased its annual payout each year since 2018.

It pays a high dividend yield, too. IPH maintains a high payout ratio of 80% to 90%. In March, the company paid its shareholders an interim dividend of 19 cents per share, 20% franked. That implies a yield of around 9.4% at the time of writing.

2. It has a defensive market position

IPH is an intellectual property (IP) services provider. Because IP protection is a legal necessity regardless of economic cycles, the company benefits from consistent cash flow and solid earnings visibility, even amid sharemarket volatility.

3. It has secured new executive leadership

Part of the headwinds facing IPH has been uncertainty about the company's ability to transition its leadership to a new CEO. 

But in May, the company announced it had recruited for the position, and Tony O'Malley began the role as Managing Director and Chief Executive Officer earlier this month. 

He replaced Andrew Blattman, who flagged his retirement in November. Blattman will stay with the company for a transition period and continue providing support until 30 November 2026.

The update has clearly helped to ease some investor concerns and improve sentiment.

Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended IPH Ltd. 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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