If youâre looking to boost your income portfolio next week, then you may want to look at the shares listed below.
Hereâs why these ASX dividend shares could be worth considering right now:
Baby Bunting Group Ltd (ASX: BBN)
The first ASX dividend share that has been tipped as a buy for income investors is Baby Bunting.
It is a leading baby products retailer with a growing store network across Australia and New Zealand.
Morgans remains positive on Baby Bunting despite âan unwelcome surpriseâ from margin weakness just two months after management âexpressed an ambition to hold or increase its gross margins in FY23.â
This is because the broker believes that the significant share price weakness since its update has more than compensated for this disappointment. Especially given how some of these margin pressures are transitory and its âcompelling opportunities to grow its share of a growing market.â
Morgans has an add rating and $3.60 price target on its shares. As for dividends, the broker is forecasting fully franked dividends per share of 14 cents in FY 2023 and then 16 cents in FY 2024. Based on the current Baby Bunting share price of $2.60, this will mean yields of 5.4% and 6.15%, respectively.
Transurban Group (ASX: TCL)
Another ASX dividend share that has been tipped as a buy is Transurban.
It is one of the worldâs leading toll road operators with a portfolio of important roads and a lucrative pipeline of development projects. The former include CityLink in Melbourne, the Cross City Tunnel in Sydney, and AirportlinkM7 in Brisbane.
JP Morgan is a fan of the company and has a buy rating and $15.00 price target on its shares. The broker has been pleased with improving traffic trends and highlights the company’s positive exposure to inflation.
As for dividends, JP Morgan expects dividends per share of 60 cents in FY 2023 and then 63 cents in FY 2024. Based on the current Transurban share price of $14.28, this implies yields of 4.2% and 4.4%, respectively.
The post Buy these ASX shares for their dividends: analysts appeared first on The Motley Fool Australia.
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More reading
- 5 ASX 200 shares Macquarie just recommended its clients buy
- 3 ultra-high-yield ASX dividend shares you might regret not buying at these prices
- Will ASX 200 shares bottom before the year is out? Here’s Macquarie’s ‘best guess’
- Experts say these ASX dividend shares are buys today
- Here’s why the Transurban share price can ‘reap the benefits’: expert
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 Baby Bunting. 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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