In this era of low interest rates it's getting really hard to find quality income options that offer long-term growth of the dividend and share price.
If you're trying to find lower volatility and also a seemingly safe dividend share then Australian United Investment Company Ltd (ASX: AUI) could be one of the good options on the ASX.
It's a listed investment company (LIC) that has been operating since 1953 when it was founded by Sir Ian Potter. The Ian Potter Foundation Ltd remains the Company's largest single shareholder after all of this time.
Australian United's objective is to take a medium to long term view and to invest in a diversified portfolio of Australian equities which have the potential to provide income and capital appreciation over the longer-term.
This approach has led to Australian United being able to maintain or increase its dividend each year since 1992, including through the GFC.
It has a portfolio of some of the largest blue chips including Commonwealth Bank of Australia (ASX: CBA), Australia and New Zealand Banking Group (ASX: ANZ), Westpac Banking Corp (ASX: WBC), CSL Limited (ASX: CSL) and Wesfarmers Ltd (ASX: WES).
The strength of Australian United has been down to the reliability of its underlying holdings and the consistent Australian economic growth.
Is it the safest shares on the ASX?
It certainly has a decent claim to that title considering that its portfolio is diversified and it has held good long-term picks so far.
I'm not sure if it's the safest, I'd say something like Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) would be safer because it has produced stronger returns and has a longer-term dividend increase history.