Don’t miss out on these top ASX dividend shares: analysts

A man in suit and tie is smug about his suitcase bursting with cash.

A man in suit and tie is smug about his suitcase bursting with cash.

Looking for dividend shares to buy? Listed below are two ASX dividend shares that analysts rate as buys.

Here’s why they are bullish on these dividend shares:

Elders Ltd (ASX: ELD)

The first ASX dividend share that has been rated as a buy is Elders. It is a leading agribusiness company offering a range of services to rural and regional customers across the ANZ region.

Goldman Sachs is very positive on the company and believes recent weakness since its full year results release has created an excellent buying opportunity.

Although heavy rainfall poses a short term headwind, the broker remains positive on the future and believes “ELD is very well positioned to grow through the cycle.”

Its analysts expect this to underpin fully franked dividends per share of 53 cents in FY 2023 and 57 cents in FY 2024. Based on the current Elders share price of $10.22, this will mean yields of 5.2% and 5.6%, respectively.

Goldman Sachs currently has a conviction buy rating and $18.40 price target on its shares.

Macquarie Group Ltd (ASX: MQG)

Another ASX dividend share that could be in the buy zone is investment bank Macquarie.

Morgans is a fan of Macquarie due to its exposure to long-term structural growth areas such as infrastructure and renewables.

The broker also sees opportunities for the bank to “benefit from recent market volatility through its trading businesses, while it continues to gain market share in Australian mortgages.”

All in all, Morgans is expecting this to underpin partially franked dividends of $7.07 per share in FY 2023 and $7.47 per share in FY 2024. Based on the current Macquarie share price of $178.06, this will mean yields of 4% and 4.2%, respectively.

Morgans has an add rating and $215.00 price target on the company’s shares.

The post Don’t miss out on these top ASX dividend shares: analysts 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 Elders Limited and Macquarie Group Limited. 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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