Are you looking for ASX dividend shares to buy? If you are, then you may want to look at the shares listed below.
Here’s why these ASX dividend shares could be in the buy zone right now:
Accent Group Ltd (ASX: AX1)
The first ASX dividend share to look at is this footwear focused retailer which owns and operates a range of brands such as HYPE DC, Platypus, and The Athlete’s Foot.
While its performance in FY 2022 has disappointed because of lockdowns, this is only expected to be a short term headwind. In light of this, the future remains very bright for Accent and the team at Bell Potter has urged investors to “buy on current weakness.”
The broker has a buy rating and $2.75 price target. This compares favourably to the current Accent share price of $2.10.
In addition, Bell Potter is expecting fully franked dividends per share of 5.4 cents in FY 2022 and then 11 cents in FY 2023. This equates to yields of 2.6% and 5.2%, respectively.
Westpac Banking Corp (ASX: WBC)
This banking giant could be a dividend share to buy according to the team at Morgans.
In response to the bank’s first quarter update, its analysts have reiterated their add rating and $29.50 price target.
For some time now the broker has been stating its belief that the market was being too negative on the bank’s outlook. It feels this view has been justified with its latest update.
Morgans commented: “We believe the trading update supports the view that the challenges facing WBC are not unsurmountable and that the stock should not be priced like a value trap. We believe the update particularly serves to alleviate investor concerns around the cost outlook.”
As for dividends, the broker has pencilled in fully franked dividends per share of $1.19 in FY 2022 and then $1.60 in FY 2023. Based on the current Westpac share price of $21.52, this will mean yields of 5.5% and 7.4%, respectively.
The post 2 quality ASX dividend shares for income investors to buy appeared first on The Motley Fool Australia.
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More reading
- Brokers name 3 ASX shares to buy today
- Hunting for ASX shares? Experts say to avoid this sector in 2022
- Is the Westpac (ASX:WBC) share price good value after its first quarter update?
- 5 things to watch on the ASX 200 on Friday
- What can the Westpac results tell us about the outlook for ASX 200 bank shares?
Motley Fool contributor James Mickleboro owns Westpac Banking Corporation. 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 and Westpac Banking Corporation. 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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