Are you looking for dividend shares to add to your income portfolio? If you are, then it could be a good idea to check out the two listed below.

These ASX dividend shares have been rated as buys by analysts. Here’s what they are saying about them:

Aurizon Holdings Ltd (ASX: AZJ)

The first ASX dividend share for investors to look at is Australia’s largest rail freight operator.

Aurizon connects miners, primary producers, and industry with international and domestic markets via its extensive national rail and road network.

Morgans is a fan of the company and currently has an add rating and $3.81 price target on its shares. It sees a lot of value in the Aurizon share price at the current level. The broker explained:

We are not yet convinced that the capital AZJ is deploying into the lower quality Bulk business (both One Rail Bulk acquisition and growth capex) to diversify its operations away from coal exports and tap into new growth avenues will deliver appropriate risk-adjusted returns over time. Nonetheless, we see value in the stock at current prices, supported by the far higher quality Network and Coal haulage businesses. ADD retained.

As for dividends, it has pencilled in partially franked dividends of 17 cents per share in FY 2023 and then 19 cents per share in FY 2024. Based on the latest Aurizon share price of $3.30, this will mean yields of 5.2% and 5.75%, respectively.

Rural Funds Group (ASX: RFF)

Another ASX dividend share that has been named as a buy is this agriculture-focused real estate property.

Rural Funds owns a diverse portfolio of properties across different geographies and sectors that are leased to some of the biggest names in the game.

Bell Potter is positive on the company and recently noted that its shares were trading at what could “be considered an attractive entry point.”

The broker currently has a buy rating and $2.65 price target on its shares.

In respect to dividends, Bell Potter is forecasting an 11.7 cents per share dividend in FY 2023 and then a 12.2 cents per share dividend in FY 2024. Based on the current Rural Funds share price of $2.10, this represents yields of 5.6% and 5.8%, respectively.

The post Buy these ASX dividend shares right now for income: analysts appeared first on The Motley Fool Australia.

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More reading

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• Buy Westpac and this high-yield ASX dividend share: 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 Rural Funds Group. The Motley Fool Australia has recommended Aurizon. 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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