3 top ASX dividend shares to buy in September

September could be a good time to look for new income ideas on the ASX.

But which ASX dividend shares could be worth buying this month?

Three that stand out are listed below. Here’s why they could be top options for passive income investors.

Harvey Norman Holdings Ltd (ASX: HVN)

The first ASX dividend share to consider is Harvey Norman.

It has been a difficult period for the retail sector, with higher interest rates and cost-of-living pressures weighing on consumer spending.

But Harvey Norman remains a high-quality retailer with a strong brand, a global footprint, and a valuable property portfolio.

The company also has exposure to several offshore markets, which gives it more growth options than some investors may realise.

If consumer spending conditions improve over the next couple of years, Harvey Norman could be well-placed to benefit.

Bell Potter remains positive and has a buy rating and $5.00 price target on its shares.

With respect to income, the broker expects fully franked dividends per share of 26.5 cents in FY 2027 and then 27.9 cents in FY 2028. This equates to dividend yields of 6.3% and 6.6%, respectively.

Rural Funds Group (ASX: RFF)

Another ASX dividend share that could be worth a look is Rural Funds.

This agricultural property group owns a portfolio of farmland assets across Australia. These include properties leased to operators in areas such as cattle, almonds, vineyards, macadamias, and cropping.

Instead of operating the farms, it collects rent from its tenants, many of which are on long-term leases. This can provide a great degree of income visibility for investors.

Like many property stocks, Rural Funds has been pressured by higher interest rates and weaker investor sentiment. But for income investors, that may have created an opportunity.

UBS has a buy rating and $2.30 price target on its shares. The broker also expects attractive dividend yields of 6% and 6.2% in FY 2027 and FY 2028, respectively.

Universal Store Holdings Ltd (ASX: UNI)

A final ASX dividend share to consider is Universal Store.

It is a youth-focused fashion retailer behind the Universal Store, Perfect Stranger, and Thrills brands.

Retail can be a tough sector, especially when household budgets are under pressure. But Universal Store has continued to appeal to younger shoppers and has a strong store rollout opportunity ahead of it. This has allowed it to outperform many of its peers.

Bell Potter is positive on the company and has a buy rating and $9.70 price target on its shares.

As for income, it is forecasting fully franked dividends per share of 41.2 cents in FY 2027 and then 46.6 cents in FY 2028. Based on its current share price of $7.58, this equates to dividend yields of 5.4% and 6.1%, respectively.

The post 3 top ASX dividend shares to buy in September appeared first on The Motley Fool Australia.

More reading

• How much is needed in superannuation to target a $60,000 annual passive income?
• Down 28% to 46%: Are these beaten-down ASX shares cheap buys?
• How much superannuation do I need to earn $90,000 per year in passive income?
• 2 ASX dividend shares with yields above 7%
• How much is needed in superannuation to target a $2,500 monthly passive income?

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 Harvey Norman and Rural Funds Group. 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.