Three ASX Dividend Shares for Higher Passive Income
ASX dividend stocks
Are you looking for ways to boost your income portfolio? If so, you may want to consider investing in ASX dividend stocks.
ASX dividend stocks are shares of companies that pay dividends to their shareholders. Dividends are a portion of a company's profits that are distributed to shareholders. ASX dividend stocks can be a good way to generate passive income, which is income that is earned without having to work for it.
If you're interested in investing in ASX dividend stocks, here are three that you may want to consider:
1. ALX Resources (ASX:ALX)
ALX Resources is a mining company that is focused on the exploration and development of gold, copper, and base metal projects. The company has a number of projects in Australia, including the Elmore copper-gold project in Queensland and the Fisher East gold project in Western Australia.
ALX Resources is expected to pay a fully franked dividend of 6.9 cents per share in FY23. This equates to a dividend yield of approximately 5.2%, based on the company's current share price.
ALX is a relatively high-risk investment, but it also has the potential for high returns.
2. GQG Partners (ASX: GQG)
GQG Partners is a global investment management company that is headquartered in Sydney, Australia. The company manages a range of investment strategies, including equity, fixed income, and multi-asset strategies.
GQG Partners is expected to pay a fully franked dividend of 50 cents per share in FY23. This equates to a dividend yield of approximately 4.5%, based on the company's current share price.
GQG is a relatively low-risk investment, and it has a history of paying consistent dividends.
3. Wesfarmers (ASX: WES)
Wesfarmers is a conglomerate with a diverse range of businesses, including retail, mining, and energy. The company has a strong track record of paying dividends, and it is expected to pay a fully franked dividend of $1.48 per share in FY23.
This equates to a dividend yield of approximately 4.2%, based on the company's current share price.
Wesfarmers is a relatively low-risk investment, and it is a good option for investors who are looking for a consistent dividend income.
There are a number of other ASX dividend stocks that you may want to consider, but these three are a good starting point. If you're interested in generating passive income, investing in ASX dividend stocks could be a good option for you.
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