ASX dividend shares that increase their payouts regularly are very attractive to me.

I prefer consistent dividend growth over large dividend yields or cyclical payouts that bounce up and down.

If I’m relying on passive income, then I want to have a high level of confidence that my dividends will continue flowing into the bank account.

Below are the two ASX dividend shares that have increased their dividend payouts the most years in a row.  

APA Group (ASX: APA)

APA has the second-best record on the ASX. It has increased its annual distribution every year for the past 22 financial years.

The business describes itself as a leading energy infrastructure business with a portfolio of more than $20 billion of assets. That includes gas transmission, processing, compression and storage assets. It also has gas-powered energy generation and renewable energy generation. Additionally, APA owns and operates battery storage and electricity transmission infrastructure.

The business regularly invests in its portfolio such as new pipelines, new energy generation and new electricity transmission, helping grow its free cash flow, which funds the larger distributions. In FY26, free cash flow grew 3.2% to $1.1 billion and underlying operation profit (EBITDA) grew 8.3% to $2.18 billion.

The ASX dividend share grew its FY26 distribution by 1.8% to 58 cents per security and expects to hike it again in FY27 to 59 cents per security. That translates into a guided distribution yield of 5.5% for FY27.

I like how the business is balancing investing in the business, together with rewarding investors with larger payouts.

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

Soul Patts has the best record of all when it comes to consistent dividend growth, which is partly why this business is one of my largest holdings.

The ASX dividend share has increased its regular annual dividend per share every year since 1998, which is a truly impressive streak.

It has managed to deliver that payout growth by maintaining a diversified portfolio across a range of sectors that can produce defensive/largely uncorrelated cash flow. Some of the places it’s invested in includes energy, telecommunications, property, building products, retirement living, agriculture, water entitlements, financial services, electrification, swimming schools, credit and plenty more.

Having that diversification helps reduce risks and helps Soul Patts search for opportunities across a wide array of assets. It has highlighted it’s looking internationally for opportunities too – Australia and the ASX have been the focus.

In the FY26 half-year result, Soul Patts hiked its interim dividend by 9.1% to 48 cents per share, which was a solid increase, in my view.

The ASX dividend share’s latest two dividends amount to a grossed-up dividend yield of 3.5%, including franking credits, at the time of writing.

Overall, I think these are two of the best ASX dividend shares around and are likely to continue hiking their payouts for the foreseeable future.

The post 2 ASX dividend shares raising dividends like clockwork appeared first on The Motley Fool Australia.

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Motley Fool contributor Tristan Harrison has positions in 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 Apa 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.

Telstra vs NAB shares: which is the better buy today?

Deciding between Telstra Group Ltd (ASX: TLS) and National Australia Bank Ltd (ASX: NAB) is a classic dilemma for Aussie investors. Both are household names, blue chips to their core, but they play in very different sandboxes: Telstra dominates telecommunications, while NAB is a financial giant. If you’re weighing up Telstra vs NAB shares for your portfolio, there are a few big differences to consider – from their income potential and defensive qualities to their recent performances on the ASX.

The case for Telstra Group

Telstra is Australia’s oldest and most prominent telco, now operating globally across 20 countries. Since its corporate revamp in 2022, Telstra has reorganised under four main arms: ServeCo, InfraCo Fixed, Amplitel, and Telstra International. At heart, though, it remains the backbone of Australia’s mobile, broadband, and fixed-line communications.

Looking at the fundamentals, Telstra offers a market cap of $54.36 billion and a P/E ratio of 24.32, positioning it as a sizeable defensive play. Its current dividend yield stands at 4.34%, supported by franking of just over 90%, giving it decent appeal for income seekers – though that franking is a little less than fully franked. Year to date, Telstra shares have returned 3.70%, so it’s actually in positive territory for 2026 so far.

Telstra’s dividend track record shows reliability (with some years of special dividends thrown in), but the actual dividend per share of $0.21 is lower in absolute terms than NAB. Its earnings per share is $0.199, so profitability is modest but steady.

The case for National Australia Bank

NAB is one of Australia’s big four banks, with roots across Australia, New Zealand, and select overseas markets. It’s a stalwart of the financial sector, with its core business spanning personal and business banking, lending, and wealth management.

NAB’s market cap dwarfs Telstra at $118.53 billion. Its P/E ratio is 19.11, which comes in lower than Telstra’s, meaning NAB shares look cheaper by this measure. NAB’s dividend yield is fractionally ahead at 4.45%, and crucially, its dividends remain fully franked – a key point for many Aussie investors seeking tax benefits from franking credits. The current dividend per share is $1.70, substantially higher in dollar terms than Telstra’s, with a stronger earnings per share at $2.00.

The trade-off? NAB’s year-to-date return is negative, sitting at -7.66% for 2026 so far. While it’s built a solid reputation for consistency, the recent share price drift is worth noting.

Valuation comparison

Here’s how the key metrics stack up side by side:

Metric	Telstra	NAB
Market Cap	$54.36b	$118.53b
P/E Ratio	24.32	19.11
Dividend Yield	4.34%	4.45%
Dividend per Share	$0.21	$1.70
Earnings per Share	$0.199	$2.00
Franking	90.48%	100%
YTD Return	+3.70%	-7.66%

There are clear contrasts: NAB is larger, sports a higher fully franked dividend per share, and appears modestly cheaper on a P/E basis. Telstra is faring better for share price performance so far in 2026.

Recent share price performance

Telstra’s shares have mostly ticked upwards in recent weeks. From $4.63 on 1 September 2026, TLS closed at $4.88 on 16 September, a gain of around 5.4% in just over a fortnight. Volatility has been low, and the overall trend is steady to mildly positive.

NAB shares, in contrast, have trended downwards. From $38.50 on 1 September 2026 to $38.02 on 16 September, that’s a mild decline. NAB saw sharper sell-offs and higher day-to-day swings.

So for recent momentum, Telstra is comfortably ahead.

Which is the better buy?

If I were forced to pick between Telstra and NAB right now, my lean would be toward Telstra.

There are a few points that guide my thinking. NAB’s fully franked, high-dollar dividends are undeniably attractive, especially for those seeking regular franking credit income. But Telstra is holding up far better in terms of recent share price growth and offers most of NAB’s income appeal, with a still-solid 4.34% dividend yield and over 90% franking.

NAB shares do look cheaper on a P/E basis, and its much larger scale gives it some defensive strength. But banking sector pressures have dragged on its price, and year to date, NAB is negative, while Telstra is up.

Telstra’s defensive telco business, clearer price momentum, and stable dividends make it my preferred option at today’s prices. For me, Telstra edges past NAB for a balanced mix of growth and income right now.

The post Telstra vs NAB: Which ASX blue chip is the better buy? appeared first on The Motley Fool Australia.

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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 no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Group. 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.

Wondering which ASX shares could be buys? 

Well, to narrow things down, let’s see what analysts are saying about the popular shares listed below.

Are they buys, holds, or sells? Here’s what they are recommending:

James Hardie Industries PLC (ASX: JHX)

Morgans is feeling more positive about this building products company following the release of its investor day update.

In response, the broker has upgraded James Hardie shares to an accumulate rating with a trimmed price target of $43.00. It said:

JHX held its combined James Hardie and AZEK Investor Day in New York on 15 September 2026. The day centred on the “built to outperform, resilient by design” tagline, as management guided to 4% to 7% organic sale growth above market, while stressing the growth did not require a US housing recovery to work. 

The growth is meant to come from the AZEK combination, synergies running ahead of plan, and a leaner, lower-capex portfolio after the Europe sale. The positive company story and the growth trajectory are only partially offset by the tough macro, a 75bps rise in the 30-year mortgage rate over the past six months, and a peer multiple de-rate. On this basis we upgrade to an Accumulate rating, whilst moderating our target price to A$43.00 (from A$45.00).

Ramelius Resources Ltd (ASX: RMS)

Another ASX share that Morgans is positive on is gold miner Ramelius Resources.

It is feeling upbeat on its outlook and has put a buy rating and $4.74 price target on its shares. It commented:

RMS is expected to release FY27 guidance and an updated outlook to FY30 in Sep-26, following execution of the EPC contract for the Mt Magnet mill expansion, providing greater clarity on project costs and timing. Following an analyst change, we retain our BUY recommendation with a revised price target of A$4.74 per share.

REA Group Ltd (ASX: REA)

Finally, Bell Potter remains bearish on this property listings company and has named its shares as a sell this week with a $148.00 price target.

The broker has concerns that listings volumes could fall well short of consensus estimates due to it operating in a challenging environment at present. Bell Potter explains:

We retain our Sell recommendation. Despite REA’s ability to generate strong results in challenged operating environments, we continue to see significant downside risk to listings volumes/earnings vs. company guidance and consensus and await further data points via lending volumes and market listings before re-considering our thesis.

The post Buy, hold, sell: James Hardie, REA Group, and Ramelius shares appeared first on The Motley Fool Australia.

More reading

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• James Hardie says it doesn’t need a US housing recovery. Can it prove it?
• Down 6% today: What’s going on with the James Hardie share price?

Motley Fool contributor James Mickleboro has positions in REA Group. 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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.