3 ASX dividend shares to buy before it’s too late

If you’re on the lookout for some new ASX dividend shares to buy, then it could be worth considering the three listed below.

Here’s what analysts are saying about them:

Rio Tinto Ltd (ASX: RIO)

Rio Tinto could be an ASX dividend share to buy this week.

It is of course one of the world’s largest miners and the owner of a portfolio of world class operations across multiples commodities.

Goldman Sachs is very positive on the company and has a buy rating and $140.50 price target on its shares.

As for dividends, the broker is expected fully franked dividends per share of US$4.61 (A$7.03) in FY 2024 and then US$4.62 (A$7.05) in FY 2025. Based on the latest Rio Tinto share price of $124.40, this will mean yields of approximately 5.65% in both years.

Telstra Corporation Ltd (ASX: TLS)

Goldman Sachs also believes that investors should be snapping up Telstra’s shares while they’re cheap.

Particularly given its low risk earnings and dividend growth over FY 2023 to FY 2025. Goldman has a buy rating and $4.65 price target on Telstra’s shares.

In respect to income, the broker is forecasting fully franked dividends of 18 cents per share in FY 2024 and 19 cents per share in FY 2025. Based on the current Telstra share price of $3.88, this equates to yields of 4.6% and 4.8%, respectively.

Transurban Group (ASX: TCL)

Finally, the team at Citi believes that Transurban could be an ASX dividend share to buy now. It is the toll road operator behind roads such as CityLink and Cross City Tunnel.

Citi currently has a buy rating and $15.90 price target on Transurban’s shares.

As for dividends, it is expecting dividends per share of 63 cents in FY 2024 and then 65 cents in FY 2025. Based on the current Transurban share price of $13.38, this will mean yields of 4.7% and 4.85%, respectively.

The post 3 ASX dividend shares to buy before it’s too late appeared first on The Motley Fool Australia.

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More reading

• 3 of the safest ASX 200 dividend shares in Australia right now
• 3 ASX shares to buy and hold forever
• 25 ASX 200 shares with ex-dividend dates next week
• 5 reasons to buy Rio Tinto shares now
• These super-strong ASX 200 blue chip shares could deliver 20% returns

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 Goldman Sachs Group and Transurban Group. The Motley Fool Australia has positions in and has recommended Telstra 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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