3 reliable ASX dividend shares for set-and-forget investing

When it comes to set-and-forget investing, it’s important to have a solid framework and ask yourself the right questions. Essentially, you are looking for ASX dividend shares that have a solid defensive moat, an understandable business model, a resilient balance sheet, a growth runway, and a fair price.

Here are three worth considering for your set-and-forget investing portfolio.

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

While the name is often thought of in terms of the pharmacies, the company divested its last remaining interests in the retail chain in 2020. Today, it is an investment company that owns a portfolio designed to build wealth steadily over time.

In 2025, it completed a merger with building materials manufacturer Brickworks Limited, ending five decades of cross-shareholdings between the companies. The new arrangement created a $14 billion investment powerhouse, further improving liquidity and transparency.

Why is Washington H. Soul Pattinson a solid ASX dividend share?  

Soul Patts’ diversification across multiple uncorrelated sectors is its defensive moat. Diversification on this scale smooths earnings, reduces volatility, and allows long-term capital allocation.

The model is a simple one – a long-running investment conglomerate that invests in high-quality businesses and compounds capital, and it is in a robust financial position. Soul Patts holds pre-tax net assets of $13.5 billion as at 1H26, up 14.6% on the prior corresponding period (PCP). And cash holdings of $427 million, providing resiliency if things go wrong. However, the scale of its diversification also gives it ample coverage here.

As for its growth runway, Soul Patts invests in both listed and unlisted businesses across the globe, providing almost limitless investment opportunity. And it remains a family-run enterprise, despite its scale, so management skin in the game is apparent too.

And when it comes to returns, Soul Patts comes through here too. It has paid dividends every year since it listed on the ASX over a century ago. And every year for the last 27 years, the dividend has grown year on year.

You will pay a premium, but the valuation is justified for set-and-forget investors given its solid track record and high-quality balance sheet.

Cochlear Ltd (ASX: COH)

Cochlear is a global leader in implantable hearing solutions, with a market share of around 60% in developed markets. It has solid recurring revenue streams too, with patients returning for upgrades or device accessories.

Why is Cochlear a solid ASX dividend share?

A quality, trusted healthcare product that makes meaningful change in people’s lives creates customer stickiness — patients often stay in the Cochlear ecosystem. Its global reputation and position in a tightly regulated market give it a solid defensive moat, and its balance sheet remains resilient despite some challenges of late.

Its business model is easy to understand — we all know what Cochlear does. Today, more than 1 million people across the globe use a Cochlear device. And with an aging population, the demand for hearing devices is set to increase in the coming years, creating a growth runway. It is also a known innovator, consistently investing in Research & Development. As technology advances, I believe Cochlear will remain at the forefront.

However, it has faced some setbacks of late, which has seen the share price fall 37% in the last twelve months. Delays in transitioning patients to its new Nucleus Nexa device have contributed to underlying net profits falling 9%, missing analysts’ expectations.

That said, it retains strong cash holdings, with operating cash flow increasing by $26.9 million to $136.8 million and free cash flow up by $24 million to $82.7 million in its 1H26 reporting.

It also recently announced a dividend of $2.15, flat against the prior corresponding period. While this has some worried that it might signal the end of steadily increasing dividends for the healthcare leader, I think it will bounce back in the second half as the Nucleus Nexa rollout regains momentum.

For me, recent conditions have created an opportunity for set-and-forget investors to get in on a market leader at an attractive price.

Brambles Ltd (ASX: BXB)

Brambles operates CHEP, the world’s largest pallet-pooling network, providing reusable pallets, crates, and containers used across the globe. Its model creates a cost-effective and efficient circular logistics solution for manufacturers and retailers, and its service is widely considered the benchmark in pallet pooling.  

Why is Brambles a solid ASX dividend share?

Brambles has a classic defensive moat built on scale, network effect, and customer stickiness. The scale of its services means it is disruptive and difficult for customers to switch, and given the quality of its service, they have little incentive to consider a move.

While global logistics is complex, its business is relatively simple. Brambles rents shipping pallets to its customers, collects, repairs, reissues, and repeats. This circular model gives it largely predictable cash flows.

Brambles 1H26 reporting showed a resilient balance sheet with sales revenue and underlying profit increasing, and free cash holdings of US$481.7 million, up $52.5 million on 2025. It also reported an interim dividend of US$0.23 per share, up 21% on FY25.  

These results are particularly strong in the current global climate, with demand headwinds in some markets and increasing inflation-driven cost pressures. 

While it has a moderate to high price-to-earnings (P/E) ratio, I think you are paying for quality here. With solid dividends, a wide defensive moat, and a resilient balance sheet, the current share price represents fair value for set-and-forget investors, in my view.  

The post 3 reliable ASX dividend shares for set-and-forget investing appeared first on The Motley Fool Australia.

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• 5 oversold ASX 200 shares to buy according to Wilsons
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Melissa Maddison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Cochlear and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Cochlear. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.