2 ASX Dividend Shares with Yields Above 7% for Passive Income-MMS & WLE

With strong FY26 performance and high dividend yields, McMillan Shakespeare Limited (ASX: MMS) and WAM Leaders Limited (ASX: WLE) stand out among ASX companies for investors seeking high-yield passive income.

McMillan Shakespeare Limited (ASX: MMS)

FY26 Financial Highlights

On 28 August 2026, McMillan Shakespeare Limited (ASX: MMS) announced its FY26 results for the year ended June 2026, reporting revenue of $602.1 million and EBITDA growth of 14.1% year-on-year to $180.7 million. This impressive financial performance was complemented by an 11.4% increase in statutory NPAT to $106.7 million.

Operational Growth and Balance Sheet Strength

Segmental growth remained robust across the board:

• Novated Leases: Rose by 13.5% to reach 90,000.

• Salary Packages: Increased by 7.1% to total 402,000.

• Oly's Contribution: Oly delivered remarkable performance, with novated lease sales growing by 77% and accounting for 6% of the group's total novated lease sales.

The company's balance sheet remained exceptionally strong during the year, backed by an ending cash balance of $95.9 million and relatively low debt. MMS reported an underlying EPS of $1.55 and a strong return on capital employed (ROCE) of 62.1%, pointing to an overall successful year.

Dividend Profile and Market Outlook

MMS boasts a market capitalisation of $1.27 billion, coupled with an attractive fully franked dividend yield of 7.21%. This is supported by a recently paid final dividend of 70 cents per share on 26 September.

Looking ahead, McMillan Shakespeare expects the business environment to remain supportive. Future growth is expected to be driven by strong novated leasing activity, increasing electric vehicle (EV) adoption, and sustained demand for salary packaging. Combined with strong operating performance, MMS remains well-positioned for investors seeking long-term growth alongside stable income.

WAM Leaders Limited (ASX: WLE)

September 2026 Investment Update

On 7 October 2026, WAM Leaders Limited (ASX: WLE) released its investment update for September, showcasing net tangible assets (NTA) per share before tax of 131.08 cents as of September 2026.

Investment Strategy and Portfolio Allocation

As an investment company focusing on the top 200 S&P/ASX-listed companies, WAM Leaders has delivered returns of around 11.9% per annum since its inception in May 2016.

• Sector Concentration: Its sector allocation is heavily concentrated in Materials, comprising around 26.8% of its total portfolio.

• Top Holdings: Key holdings include prominent names like GPT Group, Dexus, and Qantas Airways.

• Investment Process: The fund combines top-down macroeconomic analysis with rigorous fundamental research and individual market position assessments.

FY26 Performance and Shareholder Returns

WAM Leaders commands a market capitalisation of approximately $2.06 billion, featuring a high fully franked dividend yield of 7.52%. This yield is backed by a final dividend payout of 4.8 cents per share, scheduled to be paid on 30 November.

The company delivered stellar results in FY26, generating total returns of 14% during the year and outperforming the broader index by 7.9%. Total shareholder returns for FY26—including franking credits—reached an impressive 24.7%, boosting investor confidence and contributing to a growing base of more than 130,000 investors as of September 2026.

Why WLE Stands Out

With a disciplined investment approach and an enticing high dividend yield, WLE presents an attractive opportunity for investors seeking stable returns and regular income.

Source: Company announcements.