These ASX dividend shares have 4%+ forecast yields

Are you looking for dividend shares to boost your income portfolio? If you are, you may want to check out the two listed below that have been tipped to provide attractive yields.

Here’s what you need to know about these ASX dividend shares today:

Dicker Data Ltd (ASX: DDR)

The first dividend share to look at is Dicker Data. It is one of the largest technology hardware, software, cloud, cybersecurity, access control and surveillance distributors in Australia and New Zealand.

Dicker Data could be a quality option for income investors thanks to its long track record of growth and its positive long-term outlook. The latter will be supported by the company’s recent capital raising which is funding a 70% increase in its warehouse capacity. This provides the company with a significant runway to capture additional growth in the coming years and is also expected to deliver cost savings.

Goldman Sachs is currently forecasting fully franked dividends per share of 43.6 cents in FY 2022 and 49.7 cents in FY 2023. Based on the current Dicker Data share price of $10.63, this equates to yields of 4.1% and 4.7%, respectively.

And while Goldman only has a neutral rating on its shares, its price target of $12.25 offers upside potential of 15%.

Westpac Banking Corp (ASX: WBC)

Another ASX dividend share that is expected to provide attractive dividend yields is Westpac.

It is of course Australia’s oldest bank and one of the big four players in the Australian market. As well as its eponymous Westpac brand, it also owns other banking brands such as Bank of Melbourne and St Georges.

Thanks to a combination of rising interest rates and its cost cutting plans, the bank has been tipped to pay big dividends in the coming years.

For example, Goldman Sachs is forecasting fully franked dividends per share of 148.4 cents in FY 2023 and 160 cents in FY 2024. Based on the current Westpac share price of $23.99, this will mean yields of 6.2% and 6.7%, respectively.

The good news is that Goldman Sachs also sees plenty of upside for the bank’s shares. It currently has a conviction buy rating and $27.60 price target on the bank’s shares.

The post These ASX dividend shares have 4%+ forecast yields appeared first on The Motley Fool Australia.

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More reading

• Here’s the Westpac dividend forecast through to 2025
• Morgans names the best ASX 200 dividend shares to buy
• Are ASX 200 bank shares a buying opportunity hiding in plain sight?
• If I’d invested $1,000 in Westpac shares at the start of 2022, here’s how much I’d have now
• Brokers say these ASX 200 dividend shares are buys

Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Dicker Data Limited. The Motley Fool Australia has positions in and has recommended Dicker Data Limited. The Motley Fool Australia has recommended Westpac Banking Corporation. 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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