If passive income is what you’re after, then ASX dividend shares are for you. 

These are essentially shares in ASX-listed companies that pay a portion of their profits to shareholders on an annual, twice yearly, or even a monthly basis. And sometimes these are even enhanced by tax-saving partially or fully-franked credits.

The good news is that there is a huge range of options available.

The hard part is finding the ASX shares with the dividend yield that you want.

Here are four ASX shares that pay a dividend yield of 8% or more.

Atlas Arteria Group (ASX: ALX)

Atlas Arteria owns, operates, and develops five toll roads in France, Germany, and the United States. The company’s main asset is an estimated 31% stake in Autoroutes Paris-Rhin-Rhone, or APRR, which owns concessions to toll more than 2,300 kilometres of motorways in eastern France. The company also wholly owns the Dulles Greenway toll road in the US state of Virginia.

Toll road operators are a classically defensive asset and a great choice for passive income investors. The nature of their business, the fact that they operate essential infrastructure, often under long-term contracts, means they can usually generate a strong and stable income. 

Atlas Arteria consistently pays its shareholders 40 cents per unit, unfranked every year – one 20-cent payment in April, and another in October. At the time of writing, this translates to a dividend yield of around 9%.

Metrics Master Income Trust (ASX: MXT)

The Metrics Master Income Trust is a listed investment trust (LIT). Rather than investing into one stock, the trust has a portfolio of corporate loans and private credit investments, which is an increasingly popular asset class for income-focused investors. 

The trust said it targets a return of the Reserve Bank cash rate plus 3.25% per annum through the economic cycle. This is net of around 7.60% per annum fees. 

What’s more, its distributions are paid monthly, and there is also a distribution reinvestment plan (DRP) to allow its investors to reinvest their monthly income distributions if they want.

The trust most recently paid a 1.46-cent dividend to shareholders earlier this month, unfranked. The latest dividend means that the fund has paid 12 dividends to investors over the past 12 months, totalling 15.8 cents per share. At the time of writing, this gives the trust a dividend yield of approximately 9%.

IPH Ltd (ASX: IPH)

IPH is an intellectual property (IP) services provider that owns a group of patented and trademarked firms. It’s a great option for passive income investors because IP protection is a legal necessity. This means the company can generate consistent revenue, all without requiring any physical capital.

The company has a long history of paying two partially-franked dividends per year to its shareholders since 2016. And these have increased every year since 2017.

IPH’s most recent dividend of 19.5 cents was paid to shareholders today (22nd of September), with 30% franking. That totals a 39-cent total dividend for FY26. This translates to an 11.5% dividend yield at the time of writing.

WAM Capital Ltd (ASX: WAM)

WAM is another LIC, but one that focuses on giving its shareholders exposure to an actively managed diversified portfolio of undervalued ASX-listed growth companies, specifically small-to-medium-sized businesses.

The LIC aims to give its investors a stream of fully-franked dividends, while also providing capital growth and preserving capital.

This company has paid out a 7.75-cent dividend twice a year, dating back to 2020. The next 7.75-cent payment, with 60% franking, will be paid to investors next month. Giving the ASX dividend shares around a 12.6% yield at the time of writing.

But you’ll need to get in quick. As part of WAM’s FY26 results announcement, the company reported a 10.5% decline in its investment portfolio. As a result, WAM announced it will be cutting its dividend to 8 cents per share in total in FY27 to “preserve capital”.

The post 4 ASX shares that pay a dividend yield of 8% (or more) appeared first on The Motley Fool Australia.

More reading

• Starting with $20,000, how to build a portfolio generating $5,000 a year in passive income
• Atlas Arteria declares 20c H1 2026 distribution
• 3 ASX dividend stocks to provide passive income through retirement 
• How much superannuation do I need to earn $70,000 per year in passive income?
• How much superannuation is needed to target $5,500 per month in passive income?

Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended IPH Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Most economic indicators aren’t too well known by the vast majority of Australians. Even those who invest in ASX blue chip shares. The reality is that GDP, the unemployment rate, the rate of productivity growth, or the price of iron ore just don’t infiltrate the daily lives of most Australians. We most certainly cannot say the same for the price of oil, though.

Most of us get a daily reminder of the oil price when we fill up our cars, trucks, bikes and utes. Or simply by passing by a service station. However, oil flows through to far more than just petrol and diesel prices. It is the single greatest input cost in transporting goods from farm or factory to warehouse, and then to our local supermarket. Given that oil also affects electricity and gas prices, it can be classed as a fundamental driver of cost-of-living pressures across the economy. The current state of the global oil market, with oil above US$100 a barrel, is also the primary driver of the higher inflation we have seen across the global economy in 2026 to date.

That includes here in Australia, where we have seen the consequences through higher interest rates.

How does US$100 oil affect ASX shares?

So we know that high oil prices are bad news for the Australian public. They are also bad news for most ASX shares. As we’ve already touched on, oil and its derivatives are major inputs for many forms of economic production. Companies that use petroleum products for manufacturing or transportation either have to bear higher energy prices. Or pass them on to consumers. It’s a verifiable no-win situation.

This dynamic hits some companies harder than others, though. Some of the biggest losers from higher oil price sincude Qantas Airways Ltd (ASX: QAN), Woolworths Group Ltd (ASX: WOW) and even Transurban Group (ASX: TCL). After all, higher oil may mean fewer people driving.

There are few companies, outside oil stocks themselves, of course, that aren’t hurt by higher oil prices. But there are some that will be impacted less than most. Let’s talk about two potential candidates.

ASX blue chip shares that will ride out high oil

First up, we have one of the ASX’s most popular investments, Commonwealth Bank of Australia (ASX: CBA). As a big four bank, CBA is fortunate not to rely on oil as a major input cost. CBA has no goods to manufacture, and no products to physically move around the country. Relying on digital services for almost all of its revenue is certainly a boon in this era of high oil prices. As such, I would expect that CBA, along with its peers in the banking space, will be one of the best stocks to ride out this era of elevated energy costs.

Of course, CBA is not completely immune. It still has energy bills to pay, and it arguably suffers indirectly from a cost-of-living squeeze. When there’s less money sloshing around the economy, fewer people will be taking out loans. Even that isn’t completely negative for this bank, though. High interest rates do encourage Australians to leave more money in their CBA savings accounts.

A telco?

Next, let’s talk Telstra Group Ltd (ASX: TLS).

Telstra is another blue chip ASX share that isn’t at the front of the firing line when it comes to high energy prices. Like CBA, Telstra’s business model mostly rests on providing digital services, not manufacturing or transporting physical goods. Its mobile infrastructure is already in place, and only requires periodic maintenance. Its fixed-line business is largely underpinned by the NBN, with Telstra only retailing the final product in most cases.

This all adds up to an oil-resistant earnings base. Like CBA, Telstra isn’t completely insulated from oil, though. It still has technicians that need to drive around to maintain Telstra’s network infrastructure, for example. But if you’re looking for a stock that will hold up in the face of US$100 oil better than most, I think this is a great option.

The post 2 ASX blue chip shares that won’t be hit by $100 oil appeared first on The 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’s parent company Motley Fool Holdings Inc. has positions in and has recommended Transurban Group. The Motley Fool Australia has positions in and has recommended Telstra Group and Transurban Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Lovisa vs Universal Store shares: Which retail growth stock stands out?

For Aussie investors interested in retail growth shares, Lovisa Holdings Ltd (ASX: LOV) and Universal Store Holdings Ltd (ASX: UNI) are both eye-catching. Each is a big name in its space, with global ambitions and strong domestic roots. But if you’re looking for the better buy between Lovisa and Universal Store shares, it’s worth digging into how they compare on business focus, dividends, valuation, and recent returns.

The case for Lovisa

Lovisa is a specialist in fast-fashion jewellery and accessories, founded in Sydney in 2010. According to its most recent public description, Lovisa has rapidly expanded to more than 1,136 stores across more than 50 countries, with an online presence in several markets. The brand is known for its affordable, on-trend products and a highly scalable, vertically integrated retail model that lets it design and source all its own stock.

Three fundamentals stand out for me:

• Market cap: At $2.5 billion, Lovisa is the larger business here, reflecting its much broader global footprint.
• Dividend yield: The current yield is 3.8%, with dividends being partially franked (recently 50%). Lovisa pays regular dividends, but the franking level varies, which can affect after-tax returns for Aussie shareholders.
• P/E ratio: With a price-to-earnings ratio of 26.21, investors are paying up for Lovisa’s proven global growth and scale. EPS sits at $0.792 according to the latest snapshot provided.

Lovisa’s growth mindset, agile product cycles, and far-reaching network have allowed it to punch well above its weight in fashion jewellery. Dividends have been consistently paid and generally trending upward, though payout franking levels do fluctuate.

The case for Universal Store

Universal Store Holdings is a leading Australian specialty fashion retailer, mainly targeting younger customers with casual apparel, footwear, and accessories. The business, which started in 1998, operates both brick-and-mortar outlets and e-commerce, but has a much smaller network than Lovisa, with 123 stores.

Notable points for Universal Store:

• Dividend yield: At 6.06%, the yield is considerably higher than Lovisa’s, and importantly, fully franked – giving Aussie investors the advantage of maximum tax credit.
• P/E ratio: The price-to-earnings ratio is a bit higher at 30.04, implying growth expectations are also being priced in. Reported EPS is $0.236.
• Market cap: Universal Store is valued at $544 million – much smaller than Lovisa, reflecting its more concentrated operations and different stage of growth.

Dividend history shows steadily rising, fully franked payouts, suggesting a focus on rewarding shareholders from current profits. Universal Store may lack Lovisa’s scale, but its combination of niche focus and strong dividend credentials is appealing.

Valuation comparison

Here’s a clear side-by-side of the key numbers that matter:

Metric	Lovisa	Universal Store
Market cap	$2.50 billion	$543.95 million
P/E ratio	26.21	30.04
Dividend yield	3.8% (partially franked, 50%)	6.06% (fully franked)
Dividend per share	$0.86	$0.43
Earnings per share	$0.792	$0.236
Year to date (YTD) return	-19.9%	-6.0%

Note: Universal Store’s P/E ratio is based on a lower absolute EPS, which may reflect its stage in the growth cycle; Lovisa delivers more earnings per share for each dollar you pay at current prices. Also, Lovisa’s reported P/E ratio and EPS are mathematically consistent, and the same holds for Universal Store.

Recent share price performance

Comparing the period from 24 August to 18 September 2026:

• Lovisa saw a negative trend, dropping from $23.30 on 24 August to $22.62 on 18 September. Its YTD return stands at -19.9%, signalling the stock has struggled in 2026 so far.
• Universal Store also faced a dip, from $8.56 on 24 August to $7.09 on 18 September, but its YTD return is -6.0% – a softer fall compared to Lovisa over the same period.

It’s clear both stocks have had a tough year to date, with Universal Store holding up better overall.

Which is the better buy?

If I had to pick between Lovisa Holdings and Universal Store shares right now, my vote goes to Universal Store. The deciding factors are the much stronger, fully franked dividend yield (6.06% vs 3.8%), and the more modest share price slide so far in 2026. While Lovisa is the bigger and more global growth play, its yield is lower and only partly franked. Universal Store’s P/E is slightly higher, but not by a massive margin given growth expectations in specialty retail.

While neither stock has set the market on fire this year, Universal Store’s high, well-franked yield looks like a solid reward for riding out what could be a transitional year. If seeking both income and a steady hand amid volatility, I think Universal Store edges out Lovisa right now. Of course, long-term growth investors wanting global scale may still prefer Lovisa, but for me, the balance tips in favour of Universal Store today.

The post Lovisa vs Universal Store shares: Which ASX retail stock is the better buy today? appeared first on The Motley Fool Australia.

More reading

• Here are the top 10 ASX 200 shares today
• Top brokers name 3 ASX shares to buy next week
• Starting with $20,000, how to build a portfolio generating $5,000 a year in passive income
• Lovisa vs Temple & Webster: Which ASX retailer is the better growth stock today?
• 3 excellent ASX dividend shares with 5.5% to 7.7% yields

Motley Fool contributor Laura Stewart 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 Lovisa. The Motley Fool Australia has recommended Lovisa and Universal Store. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial draft. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.