Are you looking for dividend shares to buy? If you are, then you might want to look at the shares listed below.
Here’s why these ASX dividend shares could be in the buy zone:
Accent Group Ltd (ASX: AX1)
The first dividend share to look at is Accent. This retailer owns and operates a growing network of footwear focused brands including The Athlete’s Foot, Platypus, and HypeDC to name just three.
Over the last decade, Accent has been growing its earnings and dividend at a strong rate. And while this is unlikely to be the case in FY 2022 due to the negative impact of lockdowns on its performance, a number of brokers expect its strong growth to resume next year.
One of those is Bell Potter, which has a buy rating and $3.05 price target on its shares at present.
As for dividends, the broker is forecasting fully franked dividends per share of 9.1 cents in FY 2022 and then 13.5 cents in FY 2023. Based on the latest Accent share price of $2.34, this represents yields of 3.9% and 5.75%, respectively.
Rio Tinto Limited (ASX: RIO)
Another ASX dividend share to look at is Rio Tinto. This mining giant could be a top option due to the quality of its operations, its exposure to in-demand commodities like aluminium, its attractive valuation, and its generous yield.
In respect to the latter, the team at Goldman Sachs is forecasting fully franked dividend yields of ~11%+ in FY 2022 and FY 2023.
Furthermore, the broker sees decent upside for the Rio Tinto share price at the current level. Goldman has a buy rating and $121.00 price target on its shares at present.
One of the reasons Goldman is so positive on the mining giant is its aluminium business. It explained: “In addition to copper production growth, Rio has one of the highest margin, lowest carbon emission aluminium businesses in the world, with over 2.2Mt of Ali production powered by hydro, and we think ELYSIS inert anode technology could be worth billions of $.”
The post Analysts name 2 ASX dividend shares to buy now appeared first on The Motley Fool Australia.
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More reading
- Here’s why ASX 200 mining shares are flying higher
- Why the Rio Tinto (ASX:RIO) share price could be a bargain buy
- ASX 200 retail shares lift as Aussies head into Christmas with $240bn in savings
- Rio Tinto (ASX:RIO) and Fortescue (ASX:FMG) share prices hit by broker downgrade
- Rio Tinto (ASX:RIO) share price sinks amid Serbian protests, Novak Djokovic weighs in
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 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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