Top 3 ASX penny stocks with dividends

The following three ASX penny stocks with dividends offer attractive passive income potential alongside opportunities for business improvement and long-term growth.

Accent Group Limited (ASX: AX1)

Accent Group Limited (ASX: AX1) is a major footwear and lifestyle retailer in Australia and New Zealand with a market capitalization of $394 million and an annual fully franked dividend yield of 6.87%.

The company in FY2026 recorded $1.53 billion in sales excluding franchisees while underlying EBIT reached $105.3 million and underlying net profit after tax stood at $51 million but significant one-off items such as a goodwill impairment affected its statutory results.

Recent business developments include the expansion of Sports Direct and the reacquisition of the Athlete’s Foot franchise stores as well as a cost-reduction programme aimed at improving efficiency and profitability.

Accent Group has already actioned around $10 million to $15 million in net cost savings for FY2027 and expects further earnings support from store optimisation and currency hedging as well as franchise reacquisitions.

Accent Group may appeal to investors who want to invest in ASX penny stocks that pay dividends given its attractive dividend yield and several operational improvement initiatives.

GDI Property Group (ASX: GDI)

 GDI Property Group (ASX: GDI) is an Australian commercial property investor and fund manager with a current market capitalisation of $334 million and an annual unfranked distribution yield of 8.06%.

The group in FY2026 recorded a 25% rise in funds from operations (FFO) to $44.5 million while FFO per security grew 24.5% to 8.24 cents and net tangible assets reached $1.21 per security.

GDI's portfolio occupancy rose to 90% due to leasing progress at key Perth properties and both Westralia Square buildings WS1 and WS2 achieved full occupancy.

The group has taken steps to improve investor liquidity and recycle capital through the sale of more than $330 million in fund assets since December 2024 and an on-market buyback of up to 5% of stapled securities which is supported by approximately $90 million in available liquidity.

GDI will benefit from a tighter Perth office market while it progresses the Mill Green Stage 1A development and improves co-living operations alongside efforts to lease vacant space. The group also has set a distribution target of 5 cents per security in FY2027 subject to no material change in circumstances or unforeseen events.

LDR Capital Property Fund (ASX: LED)

LDR Capital Property Fund (ASX: LED) is an Australian commercial property fund that is in the midst of a major portfolio repositioning and has a market capitalisation of $142 million as well as a current annual unfranked dividend yield of 13.93%.

The fund in FY2026 generated $28.2 million in funds from operations (FFO) and $7.3 million in adjusted funds from operations (AFFO) but it also reported a statutory loss of $18.4 million and net tangible assets of $0.58 per security. Investors can secure upside not only through dividends but also capital appreciation as trailing price/book ratio is 0.64.

The fund has contracted to sell four non-core properties which are expected to generate approximately $105.4 million in net proceeds while annualised management cost savings of $1.9 million have also been achieved.

The fund intends to use the proceeds from these property sales primarily to reduce debt which should help lower its debt burden.

(Source: Company Announcements)

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