Buy these ASX dividend stocks for big 5%+ yields

If you’re wanting to strengthen your income portfolio in March with some new additions, then it could be looking at the ASX dividend stocks listed below that brokers rate as buys.

Here’s what they are saying about them:

Accent Group Ltd (ASX: AX1)

The first ASX dividend stock to look at is footwear-focused retailer Accent.

Bell Potter notes that it is positive on the company due to “continuing casual footwear trends and as sports, fitness & wellness related spending remains a priority.”

The broker is also expecting some big dividend yields in the near term. It is forecasting fully franked dividends per share of 13 cents in FY 2024 and then 14.6 cents in FY 2025. Based on the latest Accent share price of $2.05, this represents dividend yields of 6.3% and 7.1%, respectively.

Bell Potter has a buy rating and $2.50 price target on its shares.

Dexus Industria REIT (ASX: DXI)

Over at Morgans, its analysts believe that Dexus Industria could be an ASX dividend stock to buy.

It is a real estate investment trust that invests in high quality industrial warehouses across Sydney, Melbourne, Brisbane, Perth and Adelaide.

Morgans is expecting dividends per share of 16.4 cents in FY 2024 and 16.6 cents in FY 2025. Based on the current Dexus Industria share price of $2.98, this will mean dividend yields of 5.5% and 5.6%, respectively.

The broker currently has an add rating and $3.18 price target on its shares.

Suncorp Group Ltd (ASX: SUN)

Goldman Sachs thinks that insurance giant Suncorp could be a top option for income investors.

It highlights that it is “favourably disposed to Suncorp, noting in large part the tailwinds that exist in the general insurance market.”

As for dividends, the broker is forecasting fully franked dividends per share of 77 cents in FY 2024 and 82 cents in FY 2025. Based on the Suncorp share price of $15.33, this will mean yields of 5% and 5.35%, respectively.

Goldman has a buy rating and $16.25 price target on its shares.

The post Buy these ASX dividend stocks for big 5%+ yields appeared first on The Motley Fool Australia.

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More reading

• Analysts name 2 high-yield ASX dividend shares to buy
• I’m listening to Warren Buffett and loading up on cheap ASX shares in March
• 3 ASX dividend shares to buy for a passive income boost
• Top brokers name 3 ASX shares to buy today
• Is this the best high-yield ASX dividend stock for you?

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 Goldman Sachs Group. 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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