Are you looking for ASX dividend shares to add to your portfolio this week? Then the ones listed below could be top options for you right now.
Here’s why I think these ASX dividend shares are currently in the buy zone for income investors:
Accent Group Ltd (ASX: AX1)
The first option for income investors to look at this week is Accent. It is a footwear-focused retailer which owns retail store brands such as HYPE DC and Platypus. Although the pandemic has hit the retail sector hard, Accent has continued its positive form thanks to the popularity of its brands, its strong market position, and growing online business.
And due to its expansion plans, strong online offering, and its focus on active/casual wear, I’m confident Accent is well positioned to grow its profits and dividends at a solid rate over the next decade. For now, I’m expecting Accent to pay a 9 cents per share fully franked dividend in FY 2021. Based on the current Accent share price, this means investors will receive a forward 5.75% dividend yield.
National Storage REIT (ASX: NSR)
Another option to consider buying is this self storage operator. I think it could be a top long term option for income investors due to its strong market position and growth through acquisition strategy. This strategy has supported solid income and distribution growth over the last few years and even during FY 2020.
National Storage posted a 9% increase in underlying earnings to $67.7 million in FY 2020. And while its earnings are expected to be flat at best in FY 2021, I’m confident its growth will resume once the crisis passes. Until then, based on the current National Storage share price, I estimate that it offers an attractive forward 4% distribution yield.
These 3 stocks could be the next big movers in 2020
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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