3 ASX dividend shares raising dividends like clockwork

Inflation continues to be a significant problem for the Australian and global economy, eating away at the value of a dollar. ASX dividend shares with rising payouts could be the answer to offset the inflation.

Dividend growth is not guaranteed, but some businesses have an impressive track record of increasing the payout every year.

I'm going to talk about three ASX shares with great track records of consistent dividend growth year after year.

WAM Leaders Ltd (ASX: WLE)

WAM Leaders is a listed investment company (LIC) operated by Wilson Asset Management (WAM). It aims to invest in larger ASX shares to generate returns.

The LIC structure allows a company to generate investment returns and then turn that profit into dividends. If the dividend paid is smaller than the net profit, then the LIC can build its profit reserve to pay for future dividends.

At the end of September 2026, WAM Leaders had a profit reserve of 26 cents per share, compared to the annual dividend of 9.6 cents per share in FY26. This implies the profit reserve could cover the next two years of dividends.

WAM Leaders started paying a dividend in 2017, and it has increased its payout every year since then. So, we're roughly at the 10-year milestone of consistent dividend growth.

At the end of September, its portfolio included names like GPT Group (ASX: GPT), Dexus (ASX: DXS), Qantas Airways Ltd (ASX: QAN), Ansell Ltd (ASX: ANN), BlueScope Steel Ltd (ASX: BSL) and Rio Tinto Ltd (ASX: RIO).

It currently has a grossed-up dividend yield of 10.6%, including franking credits, at the time of writing.

APA Group (ASX: APA)

APA is a large Australian energy infrastructure business which owns assets like gas pipelines, gas power plants, gas storage, gas processing, wind farms, solar farms, batteries and electricity transmission.

I'd say APA has the second-best payout history on the ASX when it comes to regular payout growth. It has increased its payout every year for the last two decades. Its portfolio regularly expands through acquisitions and newly built assets, which helps grow cash flow. For example, it recently announced a $700 million investment to build the Bulloo interlink pipeline.

Additionally, a large majority of its revenue is linked to inflation, so the ASX dividend share sees annual revenue escalation from that tailwind.

It has said it will hike its FY27 payout by 1.7% to 59 cents per security. That's a forward distribution yield of 5.2%, which is a solid starting point for income investors.

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

Last but not least, Soul Patts. The investment house has a long history of owning shares in other companies and making investment returns.

Some of its longest-held investments include TPG Telecom Ltd (ASX: TPG) and New Hope Corporation Ltd (ASX: NHC).

These days, its investments are spread across a number of areas like fixed income, credit, agriculture, electrification, energy, financial services, swimming schools, building products, industrial properties, retirement living and plenty more.

The portfolio provides cash flow to Soul Patts each year in the form of dividends, distributions, interest and so on. The ASX dividend share uses a majority of that cash flow to pay a larger dividend to shareholders each year, while retaining a minority to reinvest in further investment opportunities.

Incredibly, the company has increased its regular dividend every year since 1998, so it's nearly three decades of continuous growth, making it the ASX's dividend-growth leader.

Its latest annual dividend, being FY26, grew by 7.8% to $1.11 per share. That represents a grossed-up dividend yield of 3.5%, including franking credits, at the time of writing.

Of the three, Soul Patts shares would be my pick because of how diversified its portfolio is and the way it regularly finds new opportunities.

The post 3 ASX dividend shares raising dividends like clockwork appeared first on The Motley Fool Australia.

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 Australia has recommended Ansell. 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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