Analysts say these ASX dividend stocks with ~7% yields are top buys

Are you on the lookout for some big dividend yields? If you are, then it could be worth checking out the three ASX dividend stocks in this article.

That’s because they have been named as buys and tipped to offer yields of greater 7%+ in the near term. Here’s what analysts are forecasting from them:

Accent Group Ltd (ASX: AX1)

Accent Group could be a great ASX dividend stock to buy according to analysts at Bell Potter. It is a leading leisure footwear retailer with a large network of stores across multiple brands. This includes HypeDC, Platypus, and The Athlete’s Foot.

Bell Potter likes the company. It notes that it remains “constructive on AX1 given the scale & exposure in terms of channels, brands & size as the overall industry navigates a challenging retail spend environment.”

The broker expects this to allow the company to pay 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 $1.88, this represents dividend yields of 6.9% and 7.8%, respectively.

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

APA Group (ASX: APA)

Another high-yield ASX dividend stock for investors to consider buying is APA Group. It is an energy infrastructure company that owns, manages, and operates a portfolio of gas, electricity, solar and wind assets.

Macquarie is positive on the company and expects its long run of dividend increases to continue. It is forecasting dividends per share of 56 cents in FY 2024 and then 57.5 cents in FY 2025. Based on the current APA Group share price of $7.88, this equates to 7.1% and 7.3% dividend yields, respectively.

Its analysts currently have an outperform rating and $9.40 price target on its shares.

Dexus Convenience Retail REIT (ASX: DXC)

A third ASX dividend stock that could be a great option for income investors is Dexus Convenience Retail REIT. It owns a portfolio of service station and convenience retail assets across Australia.

Morgans believes the company is positioned to reward shareholders with some big dividends in the near term. It is forecasting dividends per share of 21 cents in both FY 2024 and FY 2025. Based on its current share price of $2.62, this implies dividend yields of 8% for both years.

The broker currently has an add rating and $3.23 price target on its shares.

The post Analysts say these ASX dividend stocks with ~7% yields are top buys appeared first on The Motley Fool Australia.

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• 3 cheap ASX passive income shares I’d buy to target $1,000 a month
• Which ASX dividend shares are predicted to have the highest yields in FY25?

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 Macquarie Group. The Motley Fool Australia has positions in and has recommended Apa Group and Macquarie 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.