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2 ASX dividend shares I’d buy in June 2024 and hold forever

I love owning ASX dividend shares because of how easy it is to receive dividends every year. I’ll talk about two I’d buy now for dividends.

Businesses that can provide a mixture of growth and dividends are great because it means we can grow our wealth as well as our dividend cashflow.

Having said that, these are two I think tick the boxes:

Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)

WHSP may be the best ASX dividend share at balancing dividend growth and capital growth.

While it’s not guaranteed to continue to grow, the WHSP share price has risen by more than 110% in the last decade and it has grown its annual dividend every year since 2000.

It’s an investment business, so it owns stakes in (or owns outright) various businesses and assets. Some of the main industries it has exposure to include resources, telecommunications, property, swimming schools, agriculture, financial services and credit.

The company is steadily investing in new opportunities, increasing its potential for larger dividends and capital growth.

While it’s not the sort of thing that will shoot the lights out, I believe it can keep growing its underlying value over time for a very long time. The business has been listed for over a century and I wouldn’t be surprised if it’s still here in another century.

Hearts and Minds Investments Ltd (ASX: HM1)

This is a listed investment company (LIC) which donates an amount equivalent to 1.5% of net tangible asset value (NTA) per annum to medical research. In other words, it donates 1.5% of the underlying value of the portfolio (and other assets).

There are no management fees or performance fees involved with this LIC. Hearts and Minds is invested in a portfolio of businesses that have been chosen by fund managers who are working for free to enable the donations. Some fund manager picks are chosen at an annual investment conference, while another segment of the portfolio is decided by a small group of permanent “core fund managers”. Many of the fund managers are not accessible to regular household investors, so this is an intriguing vehicle to get that access.

In FY21 the ASX dividend share paid a fully franked dividend of $0.12 per share and the payout grew to $0.14 per share in FY24. The trailing payout is a dividend yield of 8% including the franking credits.

The latest weekly pre-tax NTA showed the Hearts and Minds share price is at a 20% discount to the reported NTA. I like that large discount.

With good underlying diversification, and with current investments like BrookfieldNvidiaFormula One Group, Microsoft, Mastercard and Guzman y Gomez, I think I could own this investment forever.

$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 for FREE by CLICKING HERE NOW and creating a 100% FREE Rask Account.

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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 Hearts and Minds and WHSP.
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