The Australian share market is home to a large number of shares offering attractive dividend yields.
But which ones should you buy? Here’s are two that one leading broker rates highly right now:
DEXUS Property Group (ASX: DXS)
The first ASX dividend share to look at is this Australian real estate company with a focus on owning, managing, and developing office, industrial and retail properties. Dexus’ areas of operation include both a direct property portfolio and third-party fund management. The former invests directly in Australian office and industrial properties, whereas the latter manages office, industrial and retail properties located across Australia.
The team at Macquarie are very positive on the company and responded positively to recent news that it is acquiring $900 million of industrial assets, including a majority stake in Jandakot airport. The broker has put an outperform rating and $11.90 price target on its shares.
Macquarie is also forecasting dividends per share of 53.7 cents in FY 2022 and 58.1 cents in FY 2023. Based on the current Dexus share price of $10.48, this will mean yields of 5.1% and 5.5%, respectively.
Mineral Resources Limited (ASX: MIN)
Another ASX dividend share that Macquarie is positive on is Mineral Resources. It is a mining and mining services company with exposure to iron ore and lithium. And while iron ore prices have fallen heavily in recent months, Macquarie doesn’t expect this to stop Mineral Resources from paying generous dividends.
The broker has pencilled in fully franked dividends per share of $2.81 in FY 2022 and $2.47 in FY 2023. Based on the current Mineral Resources share price of $42.28, this will mean yields of 6.6% and 5.8%, respectively, over the next two years.
Macquarie has an outperform rating and lofty $77.00 price target on the company’s shares.
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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 owns shares of and has recommended Macquarie 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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