As we would all probably be aware of, the past few months haven't been easy for most ASX shares. Since the start of the year, the S&P/ASX 200 Index (ASX: XJO) has lost more than 6% of its value on current pricing. And many famous ASX 200 blue-chip shares, ranging from Woolworths Group Ltd (ASX: WOW) to Telstra Corporation Ltd (ASX: TLS) have seen their share prices take a big hit. But this market malaise has also given ASX dividend shares a unique boost.
As any income seeker would know, when a company's share price drops, its starting dividend yield rises proportionally. And that can make for an advantageous situation for the right companies. So here are 3 quality ASX dividend shares that have witnessed selloffs recently, but which have also seen a boost to their running yields.
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3 quality ASX dividend shares with boosted yields
NIB Holdings Limited (ASX: NHF)
NIB is one of the largest private health insurers in the country. But NIB also has its fingers in some other pies, such as travel insurance. Its share price remains down by close to 10% year to date as it currently stands. Hence, NIB has certainly been suffering over 2022 thus far.
But on today's pricing, NIB's dividend is now at a notable 3.8%. What's more, this company's dividends usually come fully franked. That means we can gross-up that dividend yield to a robust 5.43% when including the value of those franking credits.
Harvey Norman Holdings Limited (ASX: HVN)
Harvey Norman is actually a bit of a trend bucker. It has had a very comfortable year in 2022 thus far, rising close to 10%. However, this famous retailer and dividend share remains down more than 2% over the past 12 months, vastly underperforming the ASX 200.
But this has only made the dividend increase that the company delivered last year even more potent. On current pricing, Harvey Norman shares offer a running yield of 6.34%. But it gets better, seeing as Harvey Norman's dividends also typically come fully franked. That gives it a whopping grossed-up yield of 9.06% right now.
Brickworks Limited (ASX: BKW)
Brickworks is another ASX 200 dividend share that has been through the wars in 2022 until this point. The construction materials company has now lost close to 13% this year alone. But that has given its dividend yield a boost, with the company now having a yield of 2.83% (or 4.04% grossed-up with full franking) as it currently stands. Brickwroks' core business of producing bricks and other building materials is a cyclical one. However, the company seems to have done a good job of smoothing this out by using its excess property assets to boost its ongoing cash flows.
Its dividend might not seem like the highest yield. But Brickworks has one of the best dividend records on the ASX. It hasn't cut its shareholder payments in over 40 years, giving it a well-deserved reputation as a reliable income share.
