ASX shares for consistent dividend income
Centuria Industrial REIT and Adairs offer attractive yields currently and stand out as appealing passive income opportunities backed by their compelling valuations.
Adairs Limited (ASX: ADH)
Adairs Limited is an omni channel specialty retailer focused on home furnishings, furniture and home decor products with a market capitalisation of $322.75 million.
From a financial standpoint, group sales for the first half of FY26 are expected to be in the range of $319.5 million to $331.5 million while gross margins are guided between 59.0% and 59.5% which reflects stable operating performance.
The company has paid fully franked dividends of 10.5 cents per share in FY25 which equates to an attractive current annual yield of 5.77%.
Despite these fundamentals, Adairs has seen a valuation contraction in recent months as the share price has declined by around 30% over the past three months.
This pullback has created a potential opportunity for investors as the business has an inherent cyclical nature.
A stabilisation in consumer sentiment and a recovery in discretionary spending could support earnings growth while at the current share price, it's valued at less than 9 times of FY26's estimated earnings.
Centuria Industrial REIT (ASX: CIP)
owns a diversified portfolio of industrial assets across major Australian metropolitan markets and benefits from strong tenant demand while current market capitalisation is $2.09 billion.
The portfolio provides broad exposure to the industrial property sector as it spans distribution centres, manufacturing and production facilities, data centres and cold storage properties.
During the first quarter of FY26, the REIT delivered solid operational momentum as around 42,500 square metres of leasing activity was completed across nine transactions and achieved average re-leasing spreads of more than 30%.
A key development was the execution of a new 10-year lease with Tesla at the Derrimut asset in Victoria which generated a 133% re-lease spread.
For FY26, funds from operations guidance is upgraded to a range of 18.2 to 18.5 cents per unit while distribution guidance is at 16.8 cents per unit.
The REIT pays unfranked distributions on a quarterly basis and currently offers an annual yield of 4.96% which is supported by stable cash flows, long weighted average lease terms and a low portfolio vacancy rate.
(Source: Company Reports)
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