These ASX dividend shares are great options to buy for income in October because of the dividend payout and growth.
Here are two of my favourites:
WCM Global Growth Ltd (ASX: WQG)
This is a listed investment company (LIC) that aims to invest in a global portfolio of shares that have attractive characteristics.
The LIC targets companies that have competitive advantages/economic moats that are strengthening. The WCM investment team are more focused on the direction of the economic moat rather than the size itself. That implies an increasingly profitable business.
Another key factor for the investment team is ensuring that the holdings have a corporate culture that encourages the strengthening of the economic moat. WCM has a tailored process and questions for management to investigate and monitor those investments.
The investment strategy has clearly worked for the ASX dividend share – since inception on 21 June 2017, it has delivered an average net return per year of 16.7%, beating the return of the global share market of an average of 13.6% per year.
This has allowed it to increase its dividend regularly and consistently since FY19. In FY26, it’s expecting to pay a dividend yield of 6.3%, including franking credits.
Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)
This is one of the oldest businesses on the ASX and has grown from a pharmacy business into one of the largest investment companies in Australia.
It has a diversified portfolio across a wide range of private businesses and ASX shares. After acquiring Brickworks, some of its largest investments include TPG Telecom Ltd (ASX: TPG), New Hope Corporation Ltd (ASX: NHC), Pengana Capital Group Ltd (ASX: PCG), Tuas Ltd (ASX: TUA), Aeris Resources Ltd (ASX: AIS), Nexgen Energy (Canada) CDI (ASX: NXG) and Electro Optic Systems Holdings Ltd (ASX: EOS).
WHSP continues to make new investments and has grown its annual dividend per share each year this century.
I’m expecting the ASX dividend share to continue growing its dividend over the rest of this decade and beyond.
