The Australian share market is home to a good number of shares offering attractive dividend yields.
But which ones should you buy over others? Here’s are two that analysts rate as buys right now:
Accent Group Ltd (ASX: AX1)
The first ASX dividend share to look at is this footwear focused retail group. It is the name behind a number of popular store brands such as The Athlete’s Foot, HYPE DC, and Platypus. The company also has exclusive distribution of several brands in the Australian market, including Reebok.
Although FY 2022 will be a difficult year because of lockdowns, the company has been tipped to resume its solid growth next year by the team at Bell Potter.
In light of this, the broker believes it is well worth sticking with Accent and recently reiterated its buy rating and put a $3.05 price target on its shares.
As for dividends, Bell Potter is forecasting dividends per share of 9.1 cents in FY 2022 and 13.5 cents in FY 2023. Based on the latest Accent share price of $2.38, this represents yields of 3.8% and 5.7%, respectively.
Mineral Resources Limited (ASX: MIN)
Another ASX dividend share analysts have named as a buy is Mineral Resources. It is a mining and mining services company with exposure to two commodities – iron ore and lithium. While the former has been acting as a drag on its performance, record high lithium prices are limiting the damage.
It is because of the latter that the team at Macquarie remain very positive on Mineral Resources. Last week the broker reaffirmed its outperform rating and lifted its price target to $79.00. Macquarie believes lithium prices will remain at record level for the next four years.
The broker has also lifted its dividend estimates for the coming years. It now expects fully franked dividends per share of $1.67 in FY 2022 and then $2.25 in FY 2023. Based on the latest Mineral Resources share price of $54.99, this will mean yields of 3% and 4.1%, respectively.
The post 2 buy-rated ASX dividend shares appeared first on The Motley Fool Australia.
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More reading
- These were the best performing ASX 200 shares last week
- 2 quality ASX dividend shares to buy
- What’s driving the Mineral Resources (ASX:MIN) share price higher today?
- These 5 ASX shares grew revenue by more than 70% in the last year
- Macquarie names the best ASX lithium shares to buy in 2022
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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