Buy these high yield ASX 300 shares for big dividends: brokers

There are a good number of quality ASX dividend shares to choose from on the ASX 300 index.

Two with big potential yields that have been tipped as buys are listed below. Here’s what analysts are saying about them:

Dalrymple Bay Infrastructure Ltd (ASX: DBI)

The first ASX 300 dividend share that has been named as a buy is Dalrymple Bay Infrastructure.

It is an infrastructure company and the long term operator of the Dalrymple Bay Coal Terminal (DBCT). It provides terminal infrastructure and services for producers and consumers of Australian coal.

Dalrymple Bay Infrastructure has been tipped to pay big dividends in the near term. This is thanks to strong demand for coal and its position as the cheapest export route-to-market for users within its Bowen Basin catchment region.

Morgans is a fan and has an add rating and $2.63 price target on its shares.

As for dividends, its analysts are forecasting dividends per share of approximately 21 cents in FY 2023 and 22 cents in FY 2024. Based on the latest Dalrymple Bay Infrastructure share price of $2.56, this will mean very generous yields of 8.2% and 8.6%, respectively.

Mineral Resources Ltd (ASX: MIN)

Another high yield ASX 300 dividend share that has been named as a buy is Mineral Resources.

It is a mining and mining services company with exposure to iron ore and lithium.

The team at Bell Potter is positive on Mineral Resources. The broker thinks the company is well-placed for earnings and dividend growth thanks to its business transformation, which it believes will underpin “growing production volumes and improving margins.”

In respect to dividends, Bell Potter is forecasting fully franked dividends of 373.4 cents per share in FY 2023 and 940.9 cents per share in FY 2024. Based on the current Mineral Resources share price of $79.93, this will mean 4.7% and 11.8% dividend yields, respectively.

Bell Potter has a buy rating and $110.00 price target on its shares.

The post Buy these high yield ASX 300 shares for big dividends: brokers appeared first on The Motley Fool Australia.

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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 no position in any of the stocks mentioned. 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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