Buy Telstra and this ASX dividend share: experts

If you’re wanting to boost your income with some ASX dividend shares, then you might want to look at the two listed below.

These dividend shares have recently been named as buys by brokers and tipped to provide investors with attractive dividend yields. Here’s what you need to know about these dividend shares:

Accent Group Ltd (ASX: AX1)

This footwear and youth apparel retailer could be a dividend share to buy.

This is thanks to its strong market position and exposure to younger consumers. The latter is well-placed to keep spending in the current environment due to a rise in the minimum wage.

Goldman Sachs expects this to be the case and recently put a buy rating and $2.20 price target on the company’s shares.

As for dividends, Goldman is expecting 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 $1.77, this will mean yields of 5.75% and 6.45%, respectively.

Telstra Corporation Ltd (ASX: TLS)

Income investors may also want to consider buying this telco giant’s shares.

Thanks to its successful turnaround via the T22 strategy and its ongoing restructure, it has been tipped as a dividend share to buy by analysts at Morgans.

They believe the market is undervaluing some of Telstra’s assets and expect its restructure to unlock value for shareholders. As a result, the broker has put an add rating and $4.60 price target on the company’s shares.

In respect to dividends, the broker is expecting Telstra to continue to pay fully franked 16.5 cents per share dividends in both FY 2023 and FY 2024. Based on the current Telstra share price of $4.00 this equates to yields of 4.1%.

The post Buy Telstra and this ASX dividend share: experts appeared first on The Motley Fool Australia.

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More reading

• Here are 2 of the best ASX dividend shares to buy: Morgans
• Rebound: I’m finding cheap ASX shares to buy before it’s too late!
• Can the Telstra share price finish 2022 with a bang in December?
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• Boost your retirement income with these ASX dividend shares: analysts

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 positions in and has recommended Telstra Group. 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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