ASX blue-chip shares can be among the most reliable dividend payers on the ASX, thanks to their scale and leading market positions. They can also offer pleasing dividend yields.
The two businesses I'm going to highlight both have a pleasing dividend record and are leaders at what they do.
A good dividend yield isn't guaranteed, but I'm optimistic both of the below names can deliver good passive income in the years ahead.
Image source: Getty Images
JB Hi-Fi Ltd (ASX: JBH)
JB Hi-Fi is one of Australia's leading retailers of electronics and homewares in Australia and New Zealand.
Firstly, I think it's worth noting the business continues to deliver sales growth, despite the more challenging retail conditions. In the third quarter of FY26, JB Hi-Fi Australia achieved sales growth of 4%, JB Hi-Fi New Zealand sales rose 23.2% and The Good Guys sales increased 2.5%.
I think it's a good sign of a company's strength when its revenue can rise during tough times, as it suggests its market share is increasing.
Over the past year the JB Hi-Fi share price has dropped well over 20%, making it much cheaper and boosting the dividend yield on offer.
The ASX blue-chip share has increased its dividend almost every year since FY13. Dividend growth isn't guaranteed and may not happen in FY26. The projection on Commsec suggests the business could pay an annual dividend per share of $3.38 in FY26, which translates into a grossed-up dividend yield of 5.8%, including franking credits, at the time of writing.
The Commsec forecast suggests the business could slightly increase its dividend per share in FY27 and FY28, so the dividend yield could improve from here.
Australian Foundation Investment Co Ltd (ASX: AFI) (AFIC)
The other idea I want to share is AFIC. This business is a listed investment company (LIC) that invests in an array of ASX blue-chip shares. AFIC is the largest and one of the oldest LICs on the ASX.
Some of the largest positions in the portfolio include BHP Group Ltd (ASX: BHP), Commonwealth Bank of Australia (ASX: CBA), Macquarie Group Ltd (ASX: MQG), Wesfarmers Ltd (ASX: WES), Westpac Banking Corp (ASX: WBC), National Australia Bank Ltd (ASX: NAB) and Transurban Group (ASX: TCL).
The business hasn't given investors a (regular) dividend reduction this century, meaning it has been very consistent for shareholders.
AFIC says it aims to provide shareholders with attractive investment returns through access to a growing stream of fully franked dividends and capital growth over the medium to long-term. Plus, it has very low management costs of just 0.16%.
The business declared an annual dividend per share of 26.5 cents for FY26, which translates into a grossed-up dividend yield of 5.7%, including franking credits, at the time of writing.
It's currently trading at an 18% discount to the pre-tax net tangible assets (NTA) of $8.15 at 31 July 2026 – that's its underlying value. That's a great discount to buy access to an ASX blue-chip share portfolio, in my view.
