Forget CBA and buy these ASX dividend shares

Commonwealth Bank of Australia (ASX: CBA) shares are a popular option for income investors.

However, with the banking giant’s shares only offering a modest 3.15% dividend yield at present, investors could get more bang for their buck from other ASX dividend shares.

For example, listed below are two dividend shares that analysts have named as buys and expect superior yields from in the near term. They are as follows:

Amcor (ASX: AMC)

The first ASX dividend share that could be a buy is packaging giant Amcor.

The team at Morgans is positive on the company. This is due to its positive outlook and attractive valuation. Commenting on Amcor, the broker said:

Following AMC’s solid 1Q26 result, management’s increased confidence in delivering FY26 synergy targets, and the reaffirmation of FY26 guidance, we believe the outlook remains positive. Trading on 10.4x FY26F PE with a 6.1% yield, we view the valuation as attractive. Potential positive catalysts include meeting or exceeding expectations in upcoming quarterly results and the successful completion of additional asset sales.

Morgans believes the company will pay dividends per share of approximately 81 cents in FY 2026 and then 83 cents in FY 2027. Based on its current share price of $12.95, this would mean dividend yields of 6.25% and 6.4%, respectively.

The broker has a buy rating and $15.20 price target on its shares.

Universal Store Holdings Ltd (ASX: UNI)

A second ASX dividend share that has been named as a buy is youth fashion retailer Universal Store.

Bell Potter is a big fan of the Universal Store, Thrills, and Perfect Stranger owner. This is due to its attractive valuation and positive growth outlook. The latter is being supported by its store rollout and private label strategy. It said:

At ~18x FY26e P/E (BPe), we see UNI trading at a discount to the ASX300 peer group and see the multiple justified by the distinctive growth traits supporting consistent outperformance in a challenging category, longer term opportunity with three brands, organic gross margin expansion via private label product penetration (currently ~55%) and management execution. While catalysts associated with further interest rate cuts for Australia in CY25 are not imminent post the third rate cut in August, we continue to see the youth customer prioritising on-trend streetwear and expect UNI to benefit with their leading position.

Bell Potter is forecasting fully franked dividends of 37.3 cents per share in FY 2026 and then 41.4 cents per share in FY 2027. Based on its current share price of $8.50, this would mean dividend yields of 4.4% and 4.9%, respectively.

The broker has a buy rating and $10.50 price target on its shares.

The post Forget CBA and buy these ASX dividend shares appeared first on The Motley Fool Australia.

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• CBA shares could crash below $100 in 2026: Here’s why
• Building wealth: Here’s why I prefer ASX share buybacks to dividends

Motley Fool contributor James Mickleboro has positions in Universal Store. 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 Amcor Plc. The Motley Fool Australia has recommended Universal Store. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.