Here are 2 excellent high yield ASX dividend shares that experts rate as buys

If you’re looking for an income boost in 2023, then it could be worth considering the ASX dividend shares listed below.

Both of these dividend shares have been tipped to climb higher from current levels and pay big dividends to shareholders.

Here’s what you need to know about these high yield shares:

Adairs Ltd (ASX: ADH)

The first ASX dividend share that could be a top option is Adairs. It is the leading furniture and homewares retailer behind the Focus on Furniture and Mocka brands, as well as the eponymous Adairs brand.

FY 2022 was a year to forget for the retailer. It reported a sharp decline in profits due to significant COVID related disruptions across its operations.

The good news is the worst appears to be behind the company now. It recently revealed that its performance has improved materially in FY 2023.

The team at Jarden is positive and has an overweight rating and $3.28 price target on the company’s shares.

As for dividends, the broker is forecasting fully franked dividends per share of 18 cents per share in FY 2023 and 22 cents per share in FY 2024. Based on the current Adairs share price of $2.85, this will mean yields of 6.3% and 7.7%, respectively.

Rio Tinto Ltd (ASX: RIO)

Goldman Sachs believes that this mining giant could be an ASX dividend share to buy right now. The broker responded to Rio Tinto’s quarterly update this week by retaining its buy rating and lifting its price target to $134.40.

The broker likes Rio Tinto due to its “compelling valuation” and “return to production growth in 2023.” It also sees “potential for FCF/t improvement in the Pilbara over the medium term driven by Rhodes Ridges.”

As for dividends, based on the latest Rio Tinto share price of $121.99, Goldman is forecasting dividend yields of 5.2% in FY 2023 and 6.7% in FY 2024.

The post Here are 2 excellent high yield ASX dividend shares that experts rate as buys appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• Top brokers name 3 ASX shares to buy today
• ASX 200 mining shares: To buy or not to buy?
• 5 things to watch on the ASX 200 on Wednesday
• Top ASX value shares to buy in 2023
• Why Baby Bunting, Origin, Rio Tinto, and South32 shares are dropping today

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 positions in and has recommended Adairs. The Motley Fool Australia has positions in and has recommended Adairs. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/RBmNuLD