Do you want a 6% yield? 2 ASX dividend stocks to consider buying now

In my opinion, the most attractive ASX dividend shares are those that can provide a good level of passive income and capital growth over the long term.

There is no guarantee that the stock market will not experience some bumps. But over time, if a good company manages to grow its profits, it could encourage the market to pay more for that stock in the coming years. Rising profits can also finance larger dividend payments.

A high dividend yield isn’t always a good sign, but I believe the two ASX dividend stocks below could be good choices.

Telstra Group Ltd (ASX:TLS)

Telstra is the country’s leading telecommunications company, with a strong market position. Its mobile network has the broadest national coverage, reaching more of the population with its spectrum assets.

Telstra’s mobile division is boosting business performance. In FY24, wearable device users grew by 4.1% million, while total mobile revenue increased by 5% thanks to an increase in average revenue per user (ARPU). This helped mobile operating profit (EBITDA) increase 9% to $5 billion.

The ASX dividend portion continues to invest in its mobile network, which helps it deliver best-in-class customer service and maintain or grow its market position in Australia.

Telstra has increased its annual dividend every year since 2022. Dividend growth is not guaranteed to continue, but the company is forecast to pay an annual dividend per share of 19 cents in FY26, according to Commsec . This would translate into a gross dividend yield of 6.9%.

It’s paying out most of its profits to achieve this high dividend yield, but if profits can continue to increase, then I think it’s a sustainable dividend payout ratio.

GQG Partners Inc (ASX: GQG)

GQG is a fast-growing fund manager based in the United States. It is also expanding to the UK, Canada and Australia.

I think it’s quite simple for fund managers to grow. They just need to provide good capital growth/total investment returns with your funds, which will organically boost funds under management (FUM).

Attracting new money to manage from households and institutions can also help a fund manager increase FUM.

GQG’s performance fees are low — its revenue comes from management fees, which are linked to the size of the FUM.

In the first half of fiscal year 2024 results, GQG’s average FUM increased by 46.5% to US$139.5 billion, and net profit grew by 56.4% to US$201.2 million. By the end of September 2024, its FUM had increased to $161.6 billion.

I believe your investment strategies will help you continue to provide returns to investors and attract new FUM.

Fortunately, the ASX dividend tranche targets a high dividend payout ratio of 90%, creating a large dividend yield for shareholders.

Commsec’s estimate suggests it could pay an annual dividend per share of 21.6 cents in 2025, which translates into an attractive future dividend yield of 8%.