Income investors have a lot of options on the Australian share market.
This can make it hard to decide which ASX dividend shares to buy above others.
But never fear, listed below are four options that are highly rated by brokers. They are as follows:
Coles Group Ltd (ASX: COL)
The first ASX dividend share that could be a buy is supermarket giant Coles.
That’s the view of analysts at Morgans, which have an add rating and $18.70 price target on its shares.
As for dividends, the broker is 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 $16.11, this implies dividend yields of approximately 4.1% and 4.3%, respectively.
Dexus Convenience Retail REIT (ASX: DXC)
Another ASX dividend share that analysts are positive on is Dexus Convenience Retail REIT. It owns a portfolio of service station and convenience retail assets across Australia.
Morgans is also feeling positive about this company. It has an add rating and $3.23 price target on its shares.
As for income, the broker is expecting its shares to provide income investors with some very big yields in the coming years. It has pencilled in dividends per share of 21 cents in both FY 2024 and FY 2025. Based on its current share price of $2.67, this implies yields of 7.9%.
Rural Funds Group (ASX: RFF)
Another ASX dividend share that has been given the thumbs up by analysts is Rural Funds. It is an agricultural property company that owns a portfolio of assets across several categories. This includes orchards, vineyards, cattle, and poultry.
The team at Bell Potter thinks income investors should be buying its shares. The broker has a buy rating and $2.40 price target on them.
In respect to income, the broker is forecasting dividends per share of 11.7 cents in both FY 2024 and FY 2025. Based on the current Rural Funds share price of $2.02, this will mean yields of 5.8% for income investors across both financial years.
Super Retail Group Ltd (ASX: SUL)
A fourth and final ASX dividend share that could be a buy according to analysts is Super Retail. It is the owner of retail brands BCF, Macpac, Rebel, and Super Cheap Auto.
Goldman Sachs rates the company as a buy and has a $17.80 price target on its shares.
As well as plenty of upside, Goldman is expecting the retailer to offer attractive dividend yields. It is forecasting fully franked dividends per share of 67 cents in FY 2024 and then 73 cents in FY 2025. Based on the latest Super Retail share price of $12.74, this will mean good yields of 5.25% and 5.7%, respectively.
The post Analysts say these 4 ASX dividend shares are buys appeared first on The Motley Fool Australia.
Should you invest $1,000 in Coles Group Limited right now?
Before you buy Coles Group Limited shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Coles Group Limited wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
See The 5 Stocks
*Returns as of 5 May 2024
More reading
- Here are the top 10 ASX 200 shares today
- Should you buy Coles shares for that hefty 6% dividend yield?
- Why I keep loading up on these 2 ASX passive income machines
- 4 super ASX 200 blue chip shares to buy
- Top ASX stock to buy as a thrifty investor (the old Warren Buffett way)
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 positions in and has recommended Coles Group, Rural Funds Group, and Super Retail Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Leave a Reply