2 ASX dividend shares to buy to supercharge your income

If you’re searching for an income boost, then it could be worth checking out the two ASX dividend shares listed below that analysts are bullish on.

Here’s what you they are saying about these income options:

Accent Group Ltd (ASX: AX1)

The first ASX dividend share for investors to consider buying for income is footwear-focused retailer Accent.

It owns a large stable of brands such as Hype DC, Platypus, Stylerunner, and Sneaker Lab.

Bell Potter is positive on the company. This is because of “continuing casual footwear trends and as sports, fitness & wellness related spending remains a priority.”

The broker expects this to underpin fully franked dividends per share of 12 cents in FY 2024 and then 14.1 cents in FY 2025. Based on the latest Accent share price of $2.27, this represents dividend yields of 5.3% and 6.2%, respectively.

Bell Potter has a buy rating and $2.80 price target on its shares.

Dexus Convenience Retail REIT (ASX: DXC)

Another ASX dividend share that has been given the thumbs up is Dexus Convenience Retail REIT.

It is a convenience retail and service station property fund with a portfolio of 101 assets located across Australia but concentrated on the eastern seaboard. Management notes that its portfolio is leased to high-quality tenants on attractive, long-term leases.

Bell Potter is also a fan of the company and highlights that “DXC trades at a circa 34% discount to stated NTA which we think is overly punitive for a sub-sector where there is clear price discovery, and investors for commercial real estate have a clear preference for smaller cheque size assets.”

In addition, it is expecting some big yields in the near term. The broker is forecasting dividends per share of 20.9 cents in FY 2024 and 20.5 cents in FY 2025. Based on its current share price of $2.80, this equates to yields of 7.5% and 7.3%, respectively.

Bell Potter has a buy rating and $3.00 price target on its shares.

The post 2 ASX dividend shares to buy to supercharge your income appeared first on The Motley Fool Australia.

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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 no position in any of the stocks mentioned. 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.

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