2 ASX dividend shares with yields above 7%

These stocks offer significant passive income.

ASX dividend shares are some of the most appealing things about investing in the Australian stock market because of the dividend yields on offer.

It's one thing to hope for good capital growth, but seeing real cash hit the bank account during the year is especially appealing to investors seeking passive income.

I'm going to highlight two ASX dividend shares that have yields above 7%

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Charter Hall Long WALE REIT (ASX: CLW)

This business is a real estate investment trust (REIT) that aims to maximise the distribution income that it provides to investors. It also has tenants locked into long-term rental contracts. The average weighted lease expiry (WALE) of the REIT is around nine years.

Charter Hall Long WALE REIT is invested in various types of commercial property around Australia such as hotels and pubs, grocery and distribution, telecommunication exchanges, data centres, service stations, banking and professional services, food manufacturing, healthcare and more.

The reason why it's able to provide such a good distribution yield to investors is because it targets a distribution payout ratio of 100% of its rental earnings. In other words, it pays out all of its rental profit each year.

The business expects to pay an annual distribution per unit of 25.5 cents in FY27. That translates into a distribution yield of 7.1%, at the time of writing.

I think this is a great time to invest in the business because it's trading at a 24% discount to the net tangible assets (NTA) per security of $4.71 as of 30 June 2026.

With rental income regularly growing thanks to fixed annual increases and inflation-linked increases, the business has a compelling outlook for rental growth for the foreseeable future.

Dexus Industria REIT (ASX: DXI)

The other ASX dividend share I want to highlight is Dexus Industria REIT, which is invested in high-quality industrial warehouses across Australia. As of 30 June 2026, the portfolio was valued at $1.5 billion and is allocated across major Australian cities.

It aims to provide sustainable income and long-term capital growth for investors.

There are a number of tailwinds supporting the rental potential and value of industrial real estate, including growing e-commerce adoption, increased demand for refrigerated space, and the onshoring of logistics.

In FY26, the business reported strong like-for-like portfolio income growth of 5.3%, supported by rental escalations, strong re-leasing spreads of 21.4% and a high occupancy rate of 98.8%.

A re-leasing spread tells investors what the new rate of rent is compared to the old rental rate. The reported re-leasing spread figure implies a rental increase of 21.4% compared to the old rental contract.

The business expects to pay an annual distribution of 16.6 cents per security in FY27, translating into a yield of 7.1%, at the time of writing.

The ASX dividend share also looks cheap because it's trading at a 32% discount to its reported NTA as of 30 June 2026.

Motley Fool contributor Tristan Harrison 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 no position in any of the stocks mentioned. 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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