Is this the ASX's perfect dividend stock?

The notion of the ASX's perfect dividend stock is obviously subjective and a little unrealistic. No ASX stock can be absolutely perfect, offer guaranteed returns, or carry no risk.

However, I think that possessing the ASX's best streak of dividend growth, boasting a track record of market-crushing gains, and offering a diversified portfolio of high-quality underlying investments gets a stock pretty close.

That's exactly what Washington H. Soul Pattinson and Co Ltd (ASX: SOL) has on the table today.

Soul Patts is a company I have owned for many years, and have written about (in gushing terms) before. My enthusiasm for this top ASX dividend stock has not waned, particularly in light of its latest earnings report.

Last week, Soul Patts dropped its full-year earnings for FY2026, and they were very pleasant indeed to go through. The company reported a 96% spike in revenues from continuing operations to $1.87 billion, as well as a 12% hike in net cash flow from investments to $572 million. Much of that can be attributed to Soul Patts' recent takeover of Brickworks. But even so, it was an impressive report.

Another record tumbles for this ASX dividend stock

Saving the best until last, the star metric was the final dividend of 63 cents per share. Yes, this represented a 6.8% rise over 2025's final dividend, and made sure that the company's 2026 dividend total would come in at a record $1.11 per share (up 7.8% on 2025's total). Like all Soul Patts dividends, these came with full franking credits attached.

All hearty numbers, but not exactly an ASX record. But what makes this very special, and a record to boot, is the fact that 2026 marks Soul Patts' 27th annual dividend hike in a row.

Yep, this company has now delivered an annual dividend pay rise to shareholders every single year since 1998 – a record unmatched by any other ASX dividend stock.

Additionally, Soul Patts also confirmed in those earnings that its shareholders enjoyed a total return of 16.8% over the 12 months to 31 July 2026, easily beating the broader S&P/ASX 200 Index (ASX: XJO) by 6%. Over the 25 years to 31 July, shareholders have bagged an average of 12.8% per annum, again well above the 8.4% that the broader market delivered.

No ASX dividend stock is perfect. But adding all of this up for Soul Patts, I think this company is about as close as we can get.

The post Is this the ASX's perfect dividend stock? appeared first on The Motley Fool Australia.

Motley Fool contributor Sebastian Bowen 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 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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