Fortunately for income investors, the Australian share market is filled to the brim with dividend shares.
But which ones could be buys in April?
Let’s look at three that analysts are currently recommending as buys to their clients. They are as follows:
Centuria Industrial REIT (ASX: CIP)
UBS thinks that Centuria Industrial REIT could be a top ASX dividend share to buy in April.
It is an industrial property company that owns a portfolio of high-quality industrial assets that is situated in urban infill locations throughout Australia and is underpinned by a quality and diverse tenant base.
UBS believes the company is positioned to pay dividends per share of 17 cents in FY 2026 and in FY 2027. Based on its current share price of $2.96, this would mean dividend yields of 5.75%.
The broker also sees 15% upside with its buy rating and $3.40 price target.
Sonic Healthcare Ltd (ASX: SHL)
Another ASX dividend share that could be a top buy in April is Sonic Healthcare.
It is a leading pathology and diagnostic imaging provider with operations across Australia, Europe, and the United States.
The team at Bell Potter is positive and thinks it could be a great option. This is based on its belief that the company’s performance is about to improve meaningfully. The broker highlights that this is expected to be “driven by right sizing the business, the impact of acquisitions in FY24 and normalising organic operations post COVID.”
With respect to dividends, Bell Potter is forecasting Sonic Healthcare to pay dividends per share of $1.09 in FY 2026 and then $1.11 in FY 2027. Based on its current share price of $20.53, this represents dividend yields of 5.3% and 5.4%, respectively.
Bell Potter has a buy rating and $28.75 price target on its shares, which implies potential upside of 40%.
Universal Store Holdings Ltd (ASX: UNI)
A third ASX dividend share that could be a top pick for income investors in April is Universal Store.
It is the youth fashion retailer behind the eponymous Universal Store brand, as well as Thrills and Perfect Stranger.
Morgans believes the company’s positive form can continue and expects this to underpin further dividend increases.
It is forecasting fully franked dividends of 41 cents per share in FY 2026 and 46 cents per share in FY 2027. Based on its current share price of $7.32, this equates to dividend yields of 5.6% and 6.3%, respectively.
Morgans has a buy rating and $10.60 price target on its shares. This implies potential upside of 45% for investors.
The post 3 cheap ASX dividend shares offering 5% to 6% yields (and major upside) appeared first on The Motley Fool Australia.
Should you invest $1,000 in Centuria Industrial REIT right now?
Before you buy Centuria Industrial REIT 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 Centuria Industrial REIT wasn’t one of them.
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* Returns as of 20 Feb 2026
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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 recommended Sonic Healthcare and Universal Store. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.