Are you looking to buy some dividend shares this month? Then listed below are two shares to take a closer look at.
Here’s what you need to know about them:
Accent Group Ltd (ASX: AX1)
Accent is a leading footwear-focused retailer which owns a number of retail store brands. This includes the likes of HYPE DC, Platypus, The Athlete’s Foot, and Sneaker Lab. Accent has also recently launched a couple of new brands, Australian Stylerunner and Pivot. This is part of its store expansion plan, which is aiming to add approximately 80 new stores in FY 2021.
It has been a strong performer in 2020 despite the pandemic. For example, a recent update reveals that its like for like sales are up 15.7% during the first 20 weeks of the financial year, excluding its Auckland and Victorian stores. Management also advised that its online sales are up 129% over the period.
In light of this, analysts at Citi are forecasting a 7.5 cents per share dividend in FY 2021. Based on the current Accent share price, this represents a 3.5% dividend yield.
Rural Funds Group (ASX: RFF)
Rural Funds is a real estate investment trust (REIT). It owns a diversified portfolio of high quality Australian agricultural assets that are leased to experienced agricultural operators.
At the end of FY 2020, Rural Funds owned a total of 61 properties with a combined value of $1 billion and a weighted average lease expiry (WALE) of 10.9 years. From this, it was generating adjusted funds from operations (AFFO) of 11.7 cents per share, which allowed its board to declare a full year distribution of 10.8 cents per share.
Thanks to those long leases and rental increases, the company intends to grow this distribution by its 4% per annum target growth rate in FY 2021. This will mean a 11.28 cents per share distribution for shareholders. Based on the current Rural Funds share price, this works out to be a 4.55% yield.
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Returns As of 6th October 2020
More reading
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- 2 highly rated ASX dividend shares to buy
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended RURALFUNDS STAPLED. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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