Analysts say these high-yield ASX dividend stocks are buys

The Australian share market traditionally offers a dividend yield of approximately 4%. But you don’t have to settle for that.

Not when there are ASX dividend stocks like the two listed below. Here’s what sort of yields analysts are expecting from them:

Accent Group Ltd (ASX: AX1)

This footwear retailer’s shares could be a good option for income investors.

That’s the view of analysts at Bell Potter, which believe the HypeDC and The Athlete’s Foot owner is well-placed due to “continuing casual footwear trends and as sports, fitness & wellness related spending remains a priority.”

The broker expects these trends to support the payment of fully franked dividends per share of 12 cents in FY 2024 and then 14.1 cents in FY 2025. Based on the latest Accent share price of $2.20, this represents dividend yields of 5.45% and 6.4%, respectively.

Bell Potter has a buy rating and $2.80 price target on its shares.

Deterra Royalties Ltd (ASX: DRR)

Another ASX dividend stock that analysts are feeling bullish about is Deterra Royalties.

It manages a portfolio of mining royalty assets across a range of commodities. This includes royalties held over BHP Group Ltd’s (ASX: BHP) Mining Area C, its cornerstone asset, in the Pilbara region of Western Australia.

The team at Morgan Stanley remains positive on the company and continues to forecast some big dividends in the near term. For example, it is expecting fully franked dividends per share of 37 cents in FY 2024 and then 34 cents in FY 2025. Based on the current Deterra Royalties share price of $5.08, this will mean yields of 7.3% and 6.7%, respectively.

The broker currently has an overweight rating and $5.65 price target on its shares.

The post Analysts say these high-yield ASX dividend stocks are buys appeared first on The Motley Fool Australia.

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More reading

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• How long would it take to turn $20,000 into $100,000 with ASX dividend stocks
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• 3 ASX dividend shares with 5%+ yields to buy now

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 recommended Accent 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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