Lifetime income: 3 ASX dividend stocks I’m planning to never sell

In my ASX share portfolio, I always try and follow the advice of Warren Buffett, and only buy ASX shares and dividend stocks that I never plan to sell. Sometimes, this works out (at least so far), and sometimes it doesn’t.

But today, I want to discuss three ASX dividend stocks that have worked wonders for me, and that I plan on never selling.

3 ASX dividend stocks I won’t ever sell

Telstra Group Ltd (ASX: TLS)

First up is ASX 200 telco and dividend stock Telstra. Telstra is a company we’d all be reasonably familiar with. But I keep coming back to Telstra shares, thanks to the insurmountable moat this company possesses (in my view).

Telstra is simply the best telco in Australia. It commands the highest-quality mobile network in the country, and offers 5G coverage over significantly more ground than its rivals. Many customers are with Telstra purely because they have no other option.

As such, I think Telstra is a strong business to invest in. The company has been growing its generous dividend in recent years too, which today offers a fully-franked dividend yield of around 4.3%.

National Australia Bank Ltd (ASX: NAB)

Next up we have ASX 200 big four bank and dividend stock NAB.

Like Telstra, NAB enjoys some significant advantages that make it a compelling investment in my eyes. It is one of the big four banks, which enables it to enjoy government guarantees and a significant reputation for stability and financial security.

NAB has been paying out strong dividends for decades now, and I can’t see why this might change. As it currently stands, you can get a solid and fully franked dividend yield from NAB of well over 5%.

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

Last but certainly not least, we have ASX 200 investment house Soul Patts to get into. Soul Patts is the best dividend stock on the market in my view. This company has given investors an annual dividend pay rise every single year since 2000, which is something that no other company on the ASX can say.

There’s not much to dislike with Soul Patts. It offers investors a diversified portfolio of ASX shares, as well as other investments. The company has a strong track record of managing these investments to produce exceptional returns for shareholders.

Last month, Soul Patts confirmed that investors have enjoyed an average total shareholder return (including dividends) of 12.5% per annum over the 20 years to 31 July 2023. The company’s shares offer a fully-franked dividend yield of just over 2.6% right now.

With those kinds of numbers, why on earth would I sell this dividend stock?

The post Lifetime income: 3 ASX dividend stocks I’m planning to never sell appeared first on The Motley Fool Australia.

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More reading

• Rivers of cash: Here’s how much Soul Patts shares have paid out in dividends since 2019
• Here’s why I think NAB is a no-brainer ASX dividend stock
• 3 ASX shares I think are ready for dividend hikes in 2024
• Is Telstra stock a low-risk investment for 2024?
• What will my ASX 200 bank stocks be worth in 5 years?

Motley Fool contributor Sebastian Bowen has positions in National Australia Bank, Telstra Group, and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Telstra Group and Washington H. Soul Pattinson and Company Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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