Get a passive income boost from these ASX dividend shares: analysts

Looking for a passive income boost? Then you may want to check out the ASX dividend shares listed below.

Both have been named as buys and tipped to provide investors with attractive fully franked yields. Here’s what you need to know about them:

Accent Group Ltd (ASX: AX1)

The first ASX dividend share that has been tipped as a buy is Accent. It is the fashion and footwear retailer behind brands including Hype DC, The Athlete’s Foot, Glue, Platypus, and Sneaker Lab.

Goldman Sachs is very positive on the company and believes it is well-placed to continue its strong performance despite the cost of living crisis. This is thanks to its expansion plans and its exposure to younger consumers, which have less exposure to rising rates. The latter also stand to benefit from increases to the minimum wage.

It currently has a buy rating and $3.10 price target on its shares.

As for dividends, Goldman is forecasting a fully franked dividend of 15 cents per share in FY 2023 and then 7 cents per share in FY 2024. Based on the current Accent share price of $2.55, this will mean yields of 5.9% and 2.75%, respectively.

Dicker Data Ltd (ASX: DDR)

Another ASX dividend share that has been tipped as a buy is Dicker Data. It is a leading technology hardware, software, cloud, cybersecurity, access control and surveillance distributor in Australia and New Zealand.

Morgan Stanley is bullish on the company. It currently has an outperform rating and $10.00 price target on its shares.

The broker appears to believe Dicker Data is well-placed for growth in the coming years thanks partly to favourable tailwinds. This includes the digital transformation megatrend.

The broker is expecting this to lead to fully franked dividends per share of 43.8 cents in FY 2023 and 48.8 cents in FY 2024. Based on the latest Dicker Data share price of $8.39, this will mean yields of 5.2% and 5.8%, respectively.

The post Get a passive income boost from these ASX dividend shares: analysts 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

• 5 steps to bring in $1,000 per month in passive income
• After big falls, these ASX 300 shares look dirt-cheap!
• The Accent share price has soared 100% in 6 months. Is it still a buy?
• Creating a diversified income stream: Top ASX dividend shares to buy today according to analysts
• Leading brokers name 3 ASX shares to buy 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 Dicker Data. The Motley Fool Australia has positions in and has recommended Dicker Data. 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.

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