
There are a lot of ASX dividend shares out there for income investors to choose from.
To narrow things down, let’s take a look at two that Bell Potter thinks could be among the best to buy in March.
Here’s what it is recommending to clients:
Elders Ltd (ASX: ELD)
Bell Potter thinks this agribusiness company could be a top pick for income investors.
The broker continues to believe that the market is undervaluing its Delta acquisition and thinks the ASX dividend share looks cheap at 12x forward earnings. It explains:
Elders is a leading Australian agribusiness and rural services company. It has an expansive network across Australia, providing a diverse range of services to rural and regional Australia, including livestock and wool agency and marketing, real estate services, agricultural supplies, financial services, and insurance. Elders supports primary producers across various sectors like livestock, cropping, and wool, and also operates a feed-lotting business.
We see value in ELD, particularly with the market appearing to undervalue the pending Delta acquisition. The base business is performing well with multiple growth drivers including recovery from drought conditions, system modernisations, and backward integration benefits. We are attracted to ELD’s valuation, which is relatively cheap at 12x 12MF P/E, along with these potential upside catalysts and a strong dividend yield.
As for income, forecasting fully franked dividends of 39 cents per share in FY 2026 and then 45 cents per share in FY 2027. Based on its current share price of $6.99, this equates to dividend yields of 5.6% and 6.4%, respectively.
Nick Scali Limited (ASX: NCK)
Another ASX dividend share that could be a buy according to Bell Potter is furniture retailer Nick Scali.
The broker likes the company due to its expansion in the UK, which it sees as a key growth driver in the coming years. It said:
Nick Scali is an Australian retailer specialising in household furniture and related accessories, operating under the core Nick Scali brand as well as the Plush banner. >90% of sales are completed in-store, with the company maintaining a substantial physical presence with over 100 showrooms across Australia and New Zealand, and has recently expanded into the UK, which now contributes around 8% of total revenue.
Looking ahead, the key growth drivers include the continued roll-out of Nick Scali stores in the UK, supported by the refurbishment of acquired Fabb locations, and the ability to leverage the group’s established supply base to drive scale efficiencies and margin expansion.
With respect to income, the broker is forecasting fully franked dividends of 61.9 cents per share in FY 2026 and then 75.1 cents per share in FY 2027. Based on the current Nick Scali share price of $16.97, this would mean dividend yields of 3.65% and 4.4%, respectively.
The post Bell Potter names the best ASX dividend shares to buy in March appeared first on The Motley Fool Australia.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Elders and Nick Scali. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.








