While various ASX dividend shares provide pleasing passive income, few have a track record of consistently increasing payouts over many years.
There are very few names that have increased their payout every year since the GFC. Owning a stock that has achieved that record is compelling, as it's a sign of growing earnings. It also has the benefit of boosting our bank accounts and helping offset inflation.
Let's get into the three ideas.
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Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)
I view Soul Patts as the leader of dividend growth on the ASX. That's because it's the current record holder of the longest stretch of consecutive annual dividend increases.
The business has increased its payout every year since 1998, so we're getting close to 30 years of non-stop dividend growth. The streak is older than the dot com crash!
Its dividend has consistently increased thanks to an investment portfolio focused on defensive and growth investments across a variety of sectors, including energy, property, electrification, swimming schools, and plenty more.
By having a defensive, largely uncorrelated portfolio, Soul Patts' cash flow is diversified and rising over time, giving the business a great tailwind for dividend growth. Organic growth within those investments helps grow the dividends over the long-term too.
On top of that, the business maintains a reasonably conservative dividend payout ratio to ensure it maintains adequate funding for future investment opportunities. For example, its FY26 interim dividend was 54.6% of net cash flow from investments.
APA Group (ASX: APA)
APA is the second-best ASX business when it comes to regular payout growth. It has increased its annual distribution each year since 2004.
The business has used the growing Australian and global demand for energy to increase its earnings and cash flow in the long term. APA has grown its energy portfolio over the years across gas pipelines, solar farms, wind farms, electricity transmission, and more.
Not only has the ASX dividend share benefited from its expanding portfolio, but a large majority of its revenue is linked to inflation, giving it a natural revenue tailwind.
APA is balancing using earnings between investing for growth, improving the health of the balance sheet and/or growing the payout. The FY26 payout of 58 cents per security was 1.8% higher than FY25 – any payout growth is pleasing when it's using so much money to invest for the future.
Charter Hall Group (ASX: CHC)
Another ASX share that has a very long track of dividend growth is a funds management business. Charter Hall can offer clients a diversified property offering, including specialised exposure to specific sectors at beneficial scale.
It offers property investments across different subsectors including office, industrial, logistics, retail and social infrastructure. It also has an investment in funds management of listed equities (shares).
Impressively, the business has increased its annual dividend each year since 2009 – during the GFC.
Charter Hall has benefited from long-term impressive performance within its property funds management business, attracting many billions of dollars of allocations from clients.
The long-term growth of its assets under management (AUM) have allowed the business to increase its operating earnings and hike its dividend over time, leading to its pleasing dividend record.
