For investors looking to generate passive income from the share market, there are plenty of opportunities among ASX dividend shares right now.
Here are three shares that income investors may want to consider.
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Cedar Woods Properties Ltd (ASX: CWP)
The first ASX dividend share that could be worth considering is Cedar Woods Properties. This property developer has a growing portfolio of residential communities, townhouses, and apartments across Australia.
The company appears well positioned to benefit from Australia's ongoing housing shortage and growing population, which could support demand for its developments. And with Cedar Woods reporting record presales of $830 million at the end of FY 2026, it has excellent visibility over future earnings.
Bell Potter is positive on the company and has a buy rating and $9.80 price target on its shares. As for income, it is forecasting fully franked dividends of 44 cents per share in FY 2027 and 47 cents in FY 2028. Based on its current share price of $5.90, this would mean dividend yields of approximately 7.5% and 8%, respectively.
Eagers Automotive Ltd (ASX: APE)
Another ASX dividend share that could appeal to income investors is Eagers Automotive.
It is Australia's largest automotive retailer, operating an extensive network of dealerships selling new and used vehicles, alongside servicing, parts, and finance products.
Its scale and diversified operations provide opportunities to improve efficiency and support long-term earnings growth.
Eagers is also expanding internationally, with its recent investment in Canada's automotive retail market providing another potential growth opportunity.
Bell Potter is bullish on Eagers Automotive and has a buy rating and $27.50 price target on its shares.
With respect to income, the broker estimates that it will pay dividends of 76 cents per share in FY 2026 and 82 cents in FY 2027. Based on its current share price of $18.08, this would mean dividend yields of 4.2% and 4.5%, respectively.
Rural Funds Group (ASX: RFF)
A final ASX dividend share worth considering is Rural Funds Group.
This agricultural property company owns a diversified portfolio of farmland across Australia, including cattle properties, vineyards, and orchards.
Rather than relying on agricultural production, Rural Funds generates the majority of its income by leasing its properties to farming businesses. These long-term leases provide relatively predictable rental income, which helps support regular dividends to investors.
Bell Potter currently has a buy rating and $2.55 price target on Rural Funds units.
As for income, the broker expects annual dividends of 11.7 cents per unit in FY 2027, FY 2028, and FY 2029. Based on its current share price of $1.92, this represents dividend yields of approximately 6.1% for each of those years.
