Here are 2 ASX dividend stocks that could provide a stable passive income

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Some investors may be looking for ASX dividend stocks that may offer a stable passive income.

While Washington H. Soul Pattinson and Co. Ltd. (ASX: SOL) has the longest record for dividend growth, there are other companies that also have a long-term record for dividend growth.

These are companies that grow organically and also regularly do things with excess capital such as making acquisitions and / or making share repurchases.

Here are two ASX dividend stocks that could potentially grow their dividends in the coming years:

Sonic Healthcare Ltd (ASX: SHL)

Sonic Healthcare has been growing its regular dividend for several years in a row. It operates in the healthcare field, specifically in areas such as pathology and imaging. These are areas that tend to see fairly uniform demand year on year.

The company has stated that it pursues a progressive dividend policy. In FY21 alone, the annual dividend increased by 7%, with an increase of 8% of the final dividend.

Sonic Healthcare has operations in several countries, including the United States, Germany, Australia, the United Kingdom, Ireland and Switzerland.

The company has made a high level of COVID-19 PCR and serological tests, where the Delta variant has led to a higher level of testing. Sonic also believes that there are increasing opportunities for commercial COVID-19 testing (such as travel testing and others).

Sonic has seen an increase in profits since the inception of COVID due to all testing while using existing infrastructure, which has led to operational leverage. FY21 net income grew 149% to $ 1.3 billion.

The ASX dividend stock expects demand for COVID PCR testing to continue for the foreseeable future. Management said geographical diversification provides increased opportunities for expansion and risk reduction. The core business is “increasingly resilient” to pandemic waves with “strong” underlying drivers of demand for healthcare.

At the current Sonic Healthcare share price, it has a partially franked dividend of 2.25%.

Amcor describes itself as a global leader in the development and production of packaging for food, beverages, pharmaceuticals, medical, home and personal care and other products. It operates across 230 sites, around 47,000 employees operating in more than 40 countries.

The company has steadily grown its earnings and dividends over the last 10 years.

Amcor has acquired the Bemis business in the United States. It achieved $ 75 million in cost synergies in FY21 and expects the total amount to exceed the original $ 180 million by at least 10%.

In FY21, the company grew its dividend from $ 0.46 per share. share at $ 0.47 per share. share, an increase of 2.2%. In the last financial year, shares worth USD 350 million in FY21 were also repurchased, corresponding to approximately 2% of outstanding shares.

The ASX dividend share has increased its profit margins, which has helped its profits to grow faster than revenue. FY21 revenue increased 3% to US $ 12.86 billion, earnings before interest and taxes (EBIT) grew 8% to US $ 1.5 billion, while net income increased 13% to US $ 1 billion.

Amcor expects another “strong year” in FY22. It expects to grow its adjusted earnings per share (EPS) by between 7% and 11%.

Amcors CEO Ron Delia said:

Amcor is now better positioned strategically than ever with global scale, strong innovation capabilities and greater exposure to more attractive end markets with higher growth such as healthcare and protein, which offer more potential for differentiation and growth.

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