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Building a dividend portfolio isn’t just about chasing the highest dividend yields<\/a> \u2014 it is about finding the right balance between reliable income, diversification, and long-term growth potential.<\/p>\n With $250,000 to invest, you could create a mix of quality Australian dividend stocks and ETFs that together could deliver around a 5% yield, while also positioning your capital to grow over time.<\/p>\n Here’s how I would do it.<\/p>\n Start with a strong income ETF <\/p>\n To give the portfolio instant diversification and exposure to many of the ASX’s best dividend payers, I would allocate a portion to the Vanguard Australian Shares High Yield ETF (ASX: VHY<\/a>).<\/p>\n This popular ETF targets Australian shares with higher-than-average forecast dividend yields, while aiming to avoid unsustainable payers. With its broad spread across sectors, I think the fund would act as a solid core holding.<\/p>\n Add quality blue chips <\/p>\n I would include Macquarie Group Ltd (ASX: MQG<\/a>) for its mix of dividend income and exposure to global infrastructure and investment banking. While its payouts can vary with market conditions, Macquarie’s long-term record of rewarding shareholders is impressive.<\/p>\n Telstra Group Ltd (ASX: TLS<\/a>) would also make the cut. As Australia’s largest telecommunications company, it offers reliable earnings from a defensive industry and is committed to paying fully franked dividends.<\/p>\n Include Australian dividend stocks with growth potential <\/p>\n To boost potential capital growth alongside income, I would add Accent Group Ltd (ASX: AX1<\/a>) and Universal Store Holdings Ltd (ASX: UNI<\/a>).<\/p>\n Both are retail businesses with strong brands and market positions, offering healthy dividend yields today with room for dividend growth as their earnings continue to rise.<\/p>\n Add property and agriculture exposure for diversification <\/p>\n For real estate exposure, Dexus Industria REIT (ASX: DXI<\/a>) could be attractive. It focuses on industrial and logistics properties \u2014 sectors with strong demand trends \u2014 and pays out steady, high-yield distributions.<\/p>\n From the agriculture sector, Rural Funds Group (ASX: RFF<\/a>) offers exposure to farmland and agricultural assets with long-term leases in place, providing a dependable income stream.<\/p>\n Include a global income specialist <\/p>\n