These two ASX dividend shares offer investors excellent potential for long-term passive income. They are growing their payments and could be a good long-term investment.
If the RBA interest rate is reduced further, I think it could make the following ASX dividend shares even more attractive with their dividend yields.
Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)
I’d describe WHSP as the leading business for providing dividend income increases. Amazingly, it has hiked its dividend every year since 2000.
It has achieved this thanks to its portfolio of investments that regularly pay dividends, distributions or interest to WHSP. With that pleasingly resilient cash flow, WHSP pays some of it to shareholders and keeps the rest within the business to help it further.
The ASX dividend share is invested in numerous sectors, including resources, telecommunications, swimming schools, farming, financial services and plenty more.
The business has been operating for decades and I don’t have any worries about its long-term viability thanks to the diversification and investment strategy.
It currently offers a dividend yield of 3.8%, which also includes the franking credits.
Charter Hall Group (ASX: CHC)
This is a fund manager which specialises in managing commercial real estate. It operates a number of real estate investment trusts (REITs) including Charter Hall Long WALE REIT (ASX: CLW), Charter Hall Retail REIT (ASX: CQR) and Charter Hall Social Infrastructure REIT (ASX: CQE).
The ASX dividend share has paid more cash every year to shareholders since 2009, which is a very impressive record considering all of the volatility during that time.
I believe interest rate cuts could be particularly useful because of the boost that could give to property valuations and how it could encourage more people to invest with the property fund manager.
It doesn’t have the biggest yield around, but the payout does continue growing. The current dividend yield is around 3.5%, including the useful franking credits.
