An extra $500 a month in passive income, or $6,000 a year, might not be life-changing.

But, if you're like me, it sure would come in handy!

As Aussie investors, we really do live in the lucky country, with a range of quality S&P/ASX 200 Index (ASX: XJO) dividend stocks to choose from.

And unlike on many international exchanges, like in the United States, many ASX 200 stocks pay franked dividends. Meaning you may be able to hold onto more of that passive income when it comes time to pay the ATO its pound of flesh. This can be particularly impactful during your retirement years.

Now, before we look at three top ASX 200 dividend stocks below, please bear in mind that a proper income portfolio will contain more than just three companies. There's no precise number. But 10 is a decent ballpark.

Also, remember that the dividend yields you see quoted tend to be trailing yields. Future yields may be higher or lower depending on a range of company-specific and macroeconomic factors. Forecast yields, on the other hand, are just analysts' best guesses.

With that said…

Three ASX 200 dividend stocks for passive income

The first company I'd buy to build a $500 monthly passive income stream is Telstra Group Ltd (ASX: TLS).

Telstra announced its half-year results (H1 FY 2025) on 20 February.

With after tax profits of $1.1 billion up 7.1% year over year, the ASX 200 telco lifted its fully franked interim dividend by 5.6% to 9.5 cents per share (payable on 28 March).

Atop the 9.0 cents per share final dividend Telstra paid out on 26 September, that brings the full-year payout to 18.5 cents per share. At Friday's closing price of $4.15, Telstra trades on a fully franked dividend yield of 4.5%.

The second company I'd buy for passive income is ASX 200 coal miner New Hope Corp Ltd (ASX: NHC).

New Hope's share price and dividend payouts have declined year over year amid a sharp fall in coal prices since October. But with limited new coal supply growth on the horizon, and the International Energy Agency forecasting global coal demand to rise through 2027 (or beyond), I believe New Hope remains a promising income stock.

Over the past 12 months, New Hope has paid two fully franked dividends totalling 39 cents per share. At Friday's closing price of $3.99, New Hope trades on a fully franked trailing dividend yield of 9.9%.

Which brings us to ASX 200 energy provider Origin Energy Ltd (ASX: ORG).

Origin reported its half-year results on 13 February.

With underlying profits up 23.7% year over year to $924 million, the board declared a fully franked interim dividend of 30 cents per share, up 9.1%. That brings the full-year passive income payout to 57.5 cents per share.

At Friday's closing price of $10.20 a share, Origin trades on a fully franked trailing dividend yield of 5.6%.

How much to invest for $500 a month?

So, to earn $500 a month, or $6,000 a year, in passive income from these three ASX 200 dividend stocks, how much would you need to invest right now?

Working with the trailing yields and assuming you invest an equal amount in each company, you'd earn an average dividend yield of 6.6%, with potential tax benefits from those franking credits.

To bank a yearly $6,000 in passive income, then, you'd need to invest $90,909 today.

Now, that's a tidy sum to invest all in one go.

But that's okay.

Investing is a long game.

You can also invest a smaller amount regularly, and eventually, you'll reach your passive income goal.