Are you fed up with the low interest rates on offer with savings accounts and term deposits? You’re certainly not alone if you are.
But don’t worry, because the Australian share market is here to save the day with its countless dividend options. Two ASX dividend shares that can help you smash low rates are listed below:
Charter Hall Social Infrastructure REIT (ASX: CQE)
The first ASX dividend share to consider buying today is the Charter Hall Social Infrastructure REIT. It is a real estate investment trust with a focus on properties with specialist use, limited competition, and low substitution risk.
Charter Hall Social Infrastructure REIT’s portfolio comprises bus depots, police and justice services facilities, and childcare centres. In respect to the latter, the REIT is the country’s largest owner of early learning centres, actively partnering with 35 high quality childcare operators.
The company recently released its half year results and reported a 14.1% increase in operating earnings to $29.1 million. Another couple of positives were it weighted average lease expiry (WALE) of 14 years and an occupancy rate of 99.7%.
In light of its strong performance, the Charter Hall Social Infrastructure REIT board lifted its FY 2021 distribution guidance to 15.7 cents per unit. Based on the current Charter Hall Social Infrastructure share price, this represents a 5.15% yield.
One broker that is a fan is Goldman Sachs. It currently has a conviction buy rating and $3.45 price target on its shares.
Super Retail Group Ltd (ASX: SUL)
Another ASX dividend share to consider buying is Super Retail. It is diversified retail company with a collection of popular brands. These include Super Cheap Auto, BCF, Macpac, and Rebel.
It was also on form during the first half of FY 2021. For the six months ended 31 December, the company reported a 23% increase in sales to $1.78 billion and a 139% increase in underlying net profit after tax to $177.1 million.
Underpinning this growth was solid like for like sales across the company, a favourable shift in consumer spending, and strong online sales. The latter increased 87% over the prior corresponding period to $237.4 million.
This result went down well with analysts at Citi. In response to it, the broker put a buy rating and $14.00 price target on the company’s shares. It is expecting a 73.5 cents per share dividend in FY 2021. Based on the current Super Retail share price, this represents a fully franked 6.3% yield.
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Returns As of 15th February 2021
More reading
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- 2 quality ASX dividend shares to buy this month
- 2 quality ASX dividend shares with generous yields
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Super Retail Group Limited. 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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