2 buy-rated ASX dividend stocks for income investors in March

If you’re on the lookout for some income options, then it could be worth checking out these ASX dividend stocks listed below.

Here’s what analysts are saying about these buy-rated shares:

Coles Group Ltd (ASX: COL)

The first ASX dividend stock for income investors to look at is supermarket giant Coles.

Morgans is a fan of the company following earnings season, particularly with its results coming in ahead of expectations. It was also pleased to see its sales growth outperform its arch rival early in the second half of FY 2024.

In light of the above, the broker is now forecasting fully franked dividends of 66 cents per share in FY 2024 and 69 cents per share in FY 2025. Based on the current Coles share price of $16.31, this will mean dividend yields of 4% and 4.2%, respectively.

Morgans currently has an add rating and $18.70 price target on its shares.

Dexus Convenience Retail REIT (ASX: DXC)

Another ASX dividend stock that could be a buy is Dexus Convenience Retail REIT.

It is a property company that owns a portfolio of service station and convenience retail assets located across Australia but concentrated on the eastern seaboard.

Bell Potter likes the company due partly to its attractive valuation and generous forecast dividend yields.

In respect to the latter, the broker is forecasting dividends per share of 20.9 cents in FY 2024 and 20.7 cents in FY 2025. Based on its current share price of $2.70, this equates to yields of approximately 7.7% in both years.

The broker has a buy rating and $3.00 price target on its shares.

The post 2 buy-rated ASX dividend stocks for income investors in March appeared first on The Motley Fool Australia.

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More reading

• Why Coles, Liontown, Lovisa, and Wildcat shares are dropping today
• How is the Coles share price down 3% today?
• 3 all-star ASX dividend stocks I’d own in retirement to combat falling interest rates
• 5 things to watch on the ASX 200 on Tuesday
• If I were 60 I’d buy these ASX shares for dividends

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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