Given we are, right now, in the middle of 2026's second ASX earnings season, it's an exciting time to be watching the stock market. Today, let's go through two ASX dividend shares that have just announced that their investors are set to enjoy a dividend pay rise in 2026.

2 ASX income shares that just hiked their dividends

Aussie Broadband Ltd (ASX: ABB)

First up, we have ASX telco Aussie Broadband. Telcos are well-known for their dividend potential, and Aussie Broadband seems to be trying to live up to that reputation.

Today, the company revealed a final dividend worth 3.6 cents per share. That's a significant 50% increase over the final dividend of 2.4 cents per share that investors enjoyed last year. As well as an increase over 2026's interim dividend, also worth 2.4 cents per share.

As with all of Aussie Broadband's past payouts, this latest one will come with full franking credits attached.

Investors have not reacted well to this ASX share's earnings today. At the time of writing, Aussie Broadband stock is down by 6.35% to $4.73. At this price, this S&P/ASX 200 Index (ASX: XJO) share is trading on a trailing dividend yield of 1.01%.

Argo Global Listed Infrastructure Ltd (ASX: ALI)

Next up, we have the listed investment company (LIC) Argo Global Listed Infrastructure. Argo Global Infrastructure is run by the same team behind Argo Investments Ltd (ASX: ARG), a veteran fund manager on the ASX.

It seems the infrastructure LIC shares its parents' predilection for slow-but-steady dividend hikes. Its latest earnings were also released this morning. In these earnings, Argo Infrastructure announced that its final dividend for 2026 would be worth 5.5 cents per share. That's fully franked. That matches 2025's final dividend.

However, this ASX share's interim dividend earlier this year was worth a fully franked 4.5 cents per share. This takes Argo's full-year dividends to a record 10 cents per share. It also marks the fourth year in a row of annual dividend pay rises from the LIC.

Like Aussie Broadband, Argo Global Infrastructure shares have not reacted well to the latest earnings, and are currently down 1.5% at $2.61 each. At that price, this ASX share is trading on a trailing dividend yield of 3.83%.

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What did Argo Infrastructure report?

• Net profit after tax (NPAT): $39.5 million (down from $52.2m in FY25)
• Total assets: $529 million (up from $476m in FY25)
• Fully franked full-year dividends: 10.0 cents per share (a record high; up from 9.5c last year)
• Dividend yield: 5.6% (including franking)
• Portfolio performance: +13% (vs infrastructure index +9.5% and ASX 200 Accum. +6.1%)
• Total shareholder return: +19.2% for the year to 30 June 2026

What else do investors need to know?

Argo Infrastructure delivered its 17th consecutive fully franked dividend, bringing total dividends paid to shareholders since the company's 2015 inception to 77.25 cents per share. The company's diversified approach, managed by global specialist Cohen & Steers, has consistently outperformed across multiple timeframes.

AI-driven demand for data centres has spurred growth among holdings like Entergy, which gained 38% this year after securing a major power supply contract with Google. Exposure to utilities supporting technology giants such as Meta and Microsoft also contributed positively to returns.

What did Argo Infrastructure management say?

Managing Director Jason Beddow said:

We're pleased that our global infrastructure portfolio not only delivered strong returns but continues to provide diversification and income for our shareholders, particularly in a year marked by volatility and rapid technological change.

What's next for Argo Infrastructure?

Looking ahead, Argo Infrastructure expects the global listed infrastructure sector to remain resilient, underpinned by persistent demand for energy, especially from data centre expansion and digitalisation trends. While geopolitical and regulatory risks remain, the company sees ongoing opportunity in electric utilities and gas distribution.

Longer term, the board is optimistic that private investment in infrastructure, particularly connected to the rise in AI and cloud computing, will be essential as governments alone cannot meet soaring capital expenditure needs.

Argo Infrastructure share price snapshot

Over the past 12 months, Argo Infrastructure shares have risen 9%, outpacing the All Ordinaries Index (ASX: XAO), which is flat over the same period.

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This share price gain comes after Argo Global Infrastructure reported its full-year earnings for the 2022 financial year this morning.

What did the company report?

• Net profit of $29.9 million, up 59% on $18.8 million for FY21
• Net tangible assets (NTA) of $2.45 per share, up 4.3% from $2.35 at the end of FY21
• Final and fully franked dividend of 4.5 cents per share, unchanged from FY21 final dividend
• Full-year dividend of 8 cents per share, also unchanged from FY21

What else happened in FY22?

Argo reports that its Argo Infrastructure portfolio delivered a return of 12.2% for the 12 months to 30 June 2022. That vastly outperformed the S&P/ASX 200 Accumulation Index's loss of 6.5%.

The company cited a weaker Aussie dollar, as well as returns from "midstream energy pipelines and storage assets, in the wake of Russia's invasion of Ukraine" as factors in this portfolio performance.

What did management say?

Here's some of what Argo Global Infrastructure's management had to say on the results:

Despite challenging macro-economic conditions and considerable volatility over recent months, global infrastructure stocks have continued to display resilience. When broader global and local equities plunged -4.7% and -8.8% respectively in June this year, global listed infrastructure fell just -2.1%.

This strong relative performance reflects the generally defensive characteristics of the asset class and demonstrates its downside protection and low correlation to broader equities.

What's next?

Going forward, Argo Global Infrastructure's management is expecting that "strong private investor demand for infrastructure assets is set to continue", both in Australia and globally.

The company also stated that "in the immediate term, we expect the outlook for infrastructure stocks will continue to be shaped by macroeconomic factors, including higher inflation, rising interest rates and the potential for slower economic growth".

Argo Global Listed Infrastructure share price snapshot

The Argo Global Infrastructure share price has had a strong showing in recent months. That perhaps reflects the strong performance of its underlying investment portfolio. The LIC is currently up 12.5% in 2022 so far, and 15% over the past 12 months.

At the current Argo Global Infrastructure share price, this ASX LIC has a market capitalisation of $452 million, with a dividend yield of 2.9%.

The post Argo Global Listed Infrastructure share price jumps on 'strong outperformance' appeared first on The Motley Fool Australia.