Superannuation provides a strong foundation for retirement. However pairing it with high yield ASX dividend stocks is a great way to diversify your income streams, generate additional passive income and potentially build greater financial security over the long term.
By investing in established companies with a history of paying dividends, investors can potentially benefit from both regular income and long-term capital growth.
The average dividend yield for ASX 300 shares sits at approximately 3.5%.
This acts as a solid benchmark for dividend investors and retirees to match or beat through ASX dividend stocks.
Here are three options right now that can help provide passive income alongside superannuation.
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Centuria Industrial REIT (ASX: CIP)
Centuria Industrial REIT is a real estate investment trust that owns around four billion dollars of industrial properties. These include manufacturing facilities, distribution warehouses, and data centres.
As Australia's largest pure-play industrial property investment vehicle, it has gained a reputation as a high yielding stock.
It may appeal to income-focused investors because it provides exposure to Australia's industrial property sector while generating regular rental income from its portfolio.
It also offers quarterly distributions, providing a more consistent income flow than other stocks.
The trust also benefits from a portfolio of industrial properties leased to tenants across Australia, with high occupancy and relatively long lease terms supporting the underlying rental income.
At the time of writing it offers a dividend yield of approximately 6%.
Atlas Arteria Ltd (ASX: ALX)
Atlas Arteria is another option for income investors to consider.
The company provides exposure to a portfolio of long-term infrastructure assets, including major toll roads in France, Germany and the United States.
The group's toll-road concessions generate recurring revenue from motorists using these assets, providing a foundation for distributions to investors.
It is expected to maintain its distribution at 40 cents per share, in line with current-year guidance, which equates to a yield of over 8%.
BetaShares Australian Top 20 Equities Yield Maximiser Complex ETF (ASX: YMAX)
An alternative to individual ASX dividend stocks is an ASX ETF focused on generating high yields.
One option is this Betashares fund.
It aims to generate attractive monthly income and reduce the volatility of portfolio returns by implementing an equity income investment strategy over a portfolio of the 20 largest blue-chip shares listed on the ASX.
This monthly distribution is a great vehicle for passive income for retirees.
It currently has a 12-month gross distribution yield of over 9%, making it one of the highest-yielding funds available right now.
