Are you looking for some dividend shares to boost your income portfolio? If you are, then you might want to look at the ones listed below.
Here’s why these ASX dividend shares could be in the buy zone:
Adairs Ltd (ASX: ADH)
Adairs is a leading retailer of homewares and home furnishings in Australia and New Zealand through both retail stores and online channels.
It has been in fine form in FY 2021 thanks to heightened sales during the pandemic. As a result, it looks set to deliver bumper full year profit growth next month. And while it will be very hard for Adairs to build on this in FY 2022, it has been tipped by Goldman Sachs to resume its growth again in FY 2023.
This is thanks to its strong market position and omni-channel footprint, which gives it exposure to both online and in-store growth. The broker also sees upside in average order value compared with peers in the home category.
Goldman currently has a buy rating and $4.80 price target on its shares. It is also forecasting fully franked dividends per share of 26 cents in FY 2021, 25.1 cents in FY 2022, and then 26.8 cents in FY 2023.
Based on the current Adairs share price of $3.75, this will mean yields of 6.9%, 6.7%, and 7.15%, respectively.
Aurizon Holdings Ltd (ASX: AZJ)
Another ASX dividend share to look at is Aurizon. It is Australia’s largest rail freight operator, transporting more than 250 million tonnes of Australian commodities each year.
It has been tipped as a share to buy by the analysts at Macquarie. They currently have an outperform rating and $4.32 price target on its shares. This compares to the latest Aurizon share price of $3.84.
Macquarie believes the company is well-placed with almost $1 billion in balance sheet capacity to drive its growth through acquisitions. It has suggested that grain companies with port and logistics assets could be good additions.
In the meantime, Macquarie is forecasting partially franked dividends of 27.8 cents per share in FY 2021 and then 28.6 cents per share in FY 2022. This represents very attractive yields of 7.2% and 7.45%, respectively.
The post 2 buy-rated ASX dividend shares with massive yields appeared first on The Motley Fool Australia.
These Dividend Stocks Could Be Your Next Cash Kings (FREE REPORT)
Motley Fool Australia’s Dividend experts recently released a brand-new FREE report revealing 3 dividend stocks with JUICY franked dividends that could keep paying you meaty dividends for years to come.
Our team of investors think these 3 dividend stocks should be a ‘must consider’ for any savvy dividend investor. But more importantly, could potentially make Australian investors a heap of passive income.
Don’t miss out! Simply click the link below to grab your free copy and discover these 3 high conviction stocks now.
Click Here For Your Free Stock Report
Returns As of 15th February 2021
More reading
- 2 top ASX dividend shares with BIG yields
- Brokers name 2 ASX 200 dividend shares to buy
- These 2 ASX dividend shares could be buys in July 2021
- Top ASX shares to buy in July 2021
- Temple & Webster share price surges with other ASX COVID winners
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 recommended ADAIRS FPO. The Motley Fool Australia owns shares of and has recommended ADAIRS FPO. The Motley Fool Australia has recommended Aurizon Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/3xIGdtF
Leave a Reply