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2 ASX dividend shares I’d buy in November 2023

It looks like a great time to buy ASX dividend shares because of how many have been sold off. Yields are much higher, so here are two I’d buy.

Wesfarmers Ltd (ASX: WES)

Wesfarmers Ltd (ASX: WES) has been a solid long-term pick for dividend income for a very long time and I think that will continue to be the case for a long time to come.

There are some great businesses within this company like Bunnings, Kmart and Wesfarmers chemicals, energy and fertiliser (WesCEF) which generate good returns on capital and equity. These businesses are steadily re-investing for more growth, which is helping the Wesfarmers net profit.

Wesfarmers share price

It aims to deliver a good dividend return to investors each year. In FY23 it paid a dividend yield of 3.75%, or 5.4% including the franking credits.

With expansion into areas like healthcare and lithium, I’m very positive that the ASX dividend share can grow its payout over the long-term, even if there’s some uncertainty during a shorter-term period of time.

WCM Global Growth Ltd (ASX: WQG)

WCM Global Growth Ltd (ASX: WQG) is a listed investment company (LIC), which has the job of investing in global shares for investors.

It tries to find businesses with strong competitive advantages which are increasing in strength. The investment team also try to find corporate cultures that enable the strengthening of those competitive advantages, or the economic moat.

WCM Global Growth share price

At the end of September it was invested in businesses like Novo Nordisk, United Health Group, Microsoft, Arthur J Gallagher, Canadian Pacific Kansas City, Amazon and Visa.

The ASX dividend share aims to pay a quarterly, growing dividend for shareholders. The FY24 dividend yield is guided to be 6.2%, or 8.9% including the franking credits.

As a bonus, it’s doing a share buyback and the WCM Global Growth share price is valued at a 20% discount to the underlying pre-tax net asset value (NTA) at 27 October 2023.

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report — or get it emailed to you — for FREE by CLICKING HERE NOW or the button below.

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Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

At the time of publishing, Jaz owns shares of WCM Global Growth.
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