These are the ASX dividend shares to buy now: brokers

Are you looking for ASX dividend shares to buy? If you are, then you may want to check out the two listed below that have recently been named as buys.

Here’s why brokers rate these dividend shares highly right now:

Stockland Corporation Ltd (ASX: SGP)

The first ASX dividend share that has been rated as a buy is Stockland.

It is a residential and land lease developer and retail, logistics and office real estate property manager.

Goldman Sachs is positive on the company. And while it acknowledges that trading conditions aren’t easy right now, the broker believes “the potential headwinds are factored into the share price” and sees it as “attractively valued.”

In respect to dividends, Goldman is forecasting dividends per share of 27.6 cents in FY 2023 and 28.3 cents in FY 2024. Based on the current Stockland share price of $3.60, this will mean yields of 7.65% and 7.9%, respectively.

The broker has a buy rating and $4.50 price target on Stockland’s shares.

Wesfarmers Ltd (ASX: WES)

Another ASX dividend share that has been named as a buy is this conglomerate.

Wesfarmers is the company behind a range of businesses such as Bunnings, Catch, Covalent Lithium, Kmart, Officeworks, and Priceline.

The team at Morgans thinks Wesfarmers could be a good option in the current environment due to its value offering. It highlights that “Kmart is well-placed to benefit with the average price of an item at around $6-7.”

As for dividends, its analysts are forecasting fully franked dividends per share of $1.82 in FY 2023 and $1.89 in FY 2023. Based on the current Wesfarmers share price of $45.46, this will mean yields of 4% and 4.15%, respectively.

Morgans has an add rating and $55.60 price target on Wesfarmers’ shares.

The post These are the ASX dividend shares to buy now: brokers appeared first on The Motley Fool Australia.

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More reading

• 2022 was brutal for Wesfarmers shares. What now?
• Here’s how I’ll be investing my money in ASX shares in 2023
• 3 ASX shares under $5 with 7%+ dividend yields
• Boost your passive income with these buy-rated ASX dividend shares: experts
• How to swap your job for $75,000 in retirement income using ASX dividend shares

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 Wesfarmers. 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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