Brokers say these top ASX dividend shares are buys

If you’re looking for dividend shares to buy, then the two listed below could be worth checking out.

Both have been named as buys by analysts recently and tipped to provide very attractive yields. Here’s what you need to know about them:

Accent Group Ltd (ASX: AX1)

The first ASX dividend share that has been tipped as a buy is footwear and apparel retailer Accent.

It is the owner of a stable of retail brands such as Hype DC, The Athlete’s Foot, Glue, Platypus, Sneaker Lab, and Stylerunner.

This morning, the team at Goldman commented:

AX1’s diversified product exposure includes a number of product categories which we believe are resilient in the current cycle including youth footwear (Platypus, Hype), youth apparel (Glue, Nude Lucy), performance footwear (TAF), and a higher income consumer (Stylerunner).

Goldman is expecting some attractive dividend yields from the company’s shares. It is forecasting fully franked dividends of 10.2 cents per share in FY 2023 and 11.4 cents per share in FY 2024. Based on the current Accent share price of $1.68, this will mean yields of 6.1% and 6.8%, respectively.

The broker also sees plenty of upside for its shares with its buy rating with a $2.20 price target.

HomeCo Daily Needs REIT (ASX: HDN)

Another ASX dividend share that has been named as a buy for income investors is HomeCo Daily Needs.

It is a property investment company with a focus on metro-located, convenience-based assets across neighbourhood retail, large format retail, and health and services.

Morgans explained why it is bullish. It commented:

HDN offers investors an attractive distribution yield which is underpinned by contracted rental income. Sites are also in strategic locations with strong population growth. The portfolio has exposure to ‘last mile’ logistics, as well as a significant land bank with future development potential (38% site coverage with a ~$500m development pipeline).

As for dividends, the broker is forecasting dividends per share of 8.3 cents in FY 2023 and 8.7 cents in FY 2024. Based on the current HomeCo Daily Needs share price of $1.30, this will mean dividend yields of 6.4% and 6.7%, respectively.

Morgans has an add rating and $1.56 price target on HomeCo Daily Needs’ shares.

The post Brokers say these top ASX dividend shares are buys appeared first on The Motley Fool Australia.

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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 has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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