Boost your second income with these buy-rated ASX dividend stocks

If you want some decent dividend yields then look no further than the two ASX dividend stocks named below.

That’s because brokers expect these buy-rated shares to provide investors with growing (and attractive) yields over the next couple of years. Here’s what analysts are forecasting:

Coles Group Ltd (ASX: COL)

The first ASX dividend stock that could be a buy is supermarket giant Coles.

Citi is feeling positive about the company’s outlook and is predicting meaningful margin expansion in the second half as the company rolls out new technology to combat theft. In addition, with the company focusing on making its operations more efficient through automation, there could be more of this in the future.

It is partly for this reason that Citi is forecasting fully franked dividends per share of 64 cents in FY 2024 and 70 cents in FY 2025. Based on the current Coles share price of $15.83, this implies yields of 4% and 4.4%, respectively.

The broker has a buy rating and $17.50 price target on its shares.

Dexus Industria REIT (ASX: DXI)

Another ASX dividend stock that has been tipped as a buy is Dexus Industria.

Morgans is a fan of the industrial property company. It likes the company due to its attractive yield and “solid underlying portfolio metrics and near/medium term growth opportunities via the development pipeline.”

Its analysts are expecting the latter to support the payment of dividends per share of 16.4 cents in FY 2024 and 17 cents in FY 2025. Based on the current Dexus Industria share price of $2.68, this will mean dividend yields of 6.1% and 6.3%, respectively.

Morgans has an add rating and $3.19 price target on its shares.

The post Boost your second income with these buy-rated ASX dividend stocks appeared first on The Motley Fool Australia.

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• How I’d build a backup superannuation fund with $10,000 and 5 ASX shares
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• Buy Coles and these ASX dividend stocks
• Will a competition review hurt Woolworths and Coles shares?

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 Coles Group. 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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