Buy Coles and this ASX 300 dividend share

If you’re searching for some income options for your portfolio, then it could be worth checking out the two ASX 300 dividend shares listed below.

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

Centuria Industrial REIT (ASX: CIP)

The first ASX 300 dividend share that could be a buy according to analysts is Centuria Industrial.

It is Australia’s largest domestic pure play industrial property company with a portfolio of 88 high-quality, fit-for-purpose industrial assets. Management notes that approximately 66% of portfolio income is derived from tenants directly linked to the production, packaging and distribution of consumer staples, pharmaceuticals and telecommunications.

In response to last month’s half-year results, analysts at UBS retained their buy rating and $3.71 price target on its shares.

As for income, the broker is expecting Centuria Industrial to pay dividends per share of 16 cents in both FY 2024 and in FY 2025. Based on the current Centuria Industrial share price of $3.54, this represents yields of 4.5% in both years.

Coles Group Ltd (ASX: COL)

Another ASX 300 dividend share for income investors to look at is supermarket giant Coles.

Bell Potter is has become a big fan of the company following earnings season. So much so, it has just added the supermarket operator to its preferred list. These are Australian equities that it believes offer attractive risk-adjusted returns over the long term.

It made the move thanks to a stronger than expected half-year profit and its belief that “management has multiple levers to profit improvement.”

The broker is now forecasting fully franked dividends of 64 cents per share in FY 2024 and 70 cents per share in FY 2025. Based on the current Coles share price of $16.49, this will mean yields of 3.9% and 4.25%, respectively.

Bell Potter has a buy rating and $19.00 price target on its shares.

The post Buy Coles and this ASX 300 dividend share appeared first on The Motley Fool Australia.

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More reading

• Popular ASX All Ords shares with ex-dividend dates next week
• 2 things I’m waiting for before buying Coles shares
• How I’d invest $20k to target $1,400 a year from ASX dividend shares
• Why these excellent ASX dividend shares have been named as buys
• Where I’d invest $30,000 in ASX shares for passive income

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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