If you're looking to generate reliable income, dividend-paying ASX shares are a great place to start.

With $5,000 to invest, choosing shares that combine strong dividend yields with dependable earnings can help you build a passive income stream — and benefit from long-term capital growth as well.

With that in mind, here are three ASX dividend shares that analysts think could be top buys right now.

Fortescue Ltd (ASX: FMG)

Fortescue is one of the world's largest iron ore producers, with operations that generate strong cash flow — particularly when iron ore prices are high. The company has also become known for its generous dividend policy, regularly paying out a large portion of profits to shareholders. And while its earnings can be volatile due to commodity price swings, Fortescue's recent yields have often been in the 6% to 9% range.

Morgans expects this trend to continue and is forecasting fully franked dividends of $1.08 per share in FY 2025 and then $1.15 per share in FY 2026. Based on its current share price of $14.69, this would mean dividend yields of 7.35% and 7.8%, respectively.

The broker has a buy rating and $18.80 price target on its shares.

Harvey Norman Holdings Ltd (ASX: HVN)

Another ASX dividend share to consider buying with the $5,000 is Harvey Norman. This retail giant is one of the most generous dividend payers on the Australian share market. It appears well-placed to be a big winner from falling interest rates and the AI driven upgrade cycle for mobile phones, laptops, and other technology.

The team at Bell Potter believes this leaves it positioned to pay fully franked dividends of 25.4 cents per share in FY 2025 and then 28.1 cents per share in FY 2026. Based on its current share price of $5.30, this will mean dividend yields of 4.8% and 5.3%, respectively.

Bell Potter currently has a buy rating and $6,00 price target on its shares.

Sonic Healthcare Ltd (ASX: SHL)

Sonic Healthcare is a global pathology and diagnostic imaging provider that operates in Australia, Europe, and the United States. While its COVID testing revenue has faded, its core business remains resilient — and is imminently expected to return to steady earnings growth.

Bell Potter notes that this is expected to be "driven by right sizing the business, the impact of acquisitions in FY24 and normalising organic operations post COVID." It expects this to underpin dividends per share of 107 cents in FY 2025 and then 109 cents in FY 2026. Based on its current share price of $26.39, this represents dividend yields of 4% and 4.1%, respectively.

Bell Potter has a buy rating and $33.70 price target on its shares.