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2 generous ASX dividend shares to buy for income today

Sebastian Bowen

One of the greatest things about owning shares – ASX shares in particular – is the franked dividends. Having a rising stream of income coming into your personal account – which can even be reinvested for more income down the road – is a great way to tangibly build wealth and see/feel the benefits of owning income-producing assets.

With this in mind, here are 2 ASX dividend shares that I think will reward you with ample dividend income for many years to come.

BHP Group Ltd (ASX: BHP)

BHP is not known as the ‘big Australian’ for nothing – it’s our largest miner and one of the oldest companies on the ASX. I still think BHP is a great investment today, as its low-cost operations allow the company to make it rain (cash) when commodity prices are high – which happens on a cyclical basis

It also has its eggs spread across a few baskets, which include coal, iron ore, copper and petroleum. This is very advantageous from a diversification standpoint. For these reasons, I think BHP is a great buy for income today – especially since the shares have dipped recently on news that its CEO will retire soon.

Woolworths Group Ltd (ASX: WOW)

Woolworths is another classic Aussie company that I think is looking great today. Woolies has proved it has the branding and marketing power to keep its competitors like Coles Group Ltd (ASX: COL) and Aldi at bay. Its successful promotional strategies and promotional programs like the recent Discovery Garden and Lion King toys have also pleased parents and investors alike.

Woolworths also owns the Big W discount stores as well as Dan Murphy’s and BWS liquor chains, which throws in some healthy diversity too. WOW shares currently offer a grossed-up dividend yield of 3.73%

Foolish takeaway

I think these 2 ASX dividend-paying giants would form a solid backbone of any income-focused portfolio. Both have a strong track record of dominating their respective fields and delivering for investors – which makes them stocks worth holding in my view!

The post 2 generous ASX dividend shares to buy for income today appeared first on Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019