Buy these ASX dividend stocks with yields of 5% to 7.5%

If you’re an income investor searching for some new portfolio additions, then it could be worth taking a look at the two ASX dividend stocks listed below.

They have been named as buys by analysts and tipped to provide very attractive dividend yields.

Here’s what you need to know about these income options in March:

Accent Group Ltd (ASX: AX1)

The first ASX dividend stock that could be a buy is Accent.

Bell Potter is feeling positive about the company. This is due to its strong market position and its “growth adjacencies via exclusive partnerships with globally winning brands such as Hoka and growing vertical brand strategy.”

The broker has a buy rating and $2.50 price target on its shares.

In respect to income, Bell Potter is forecasting fully franked dividends per share of 13 cents in FY 2024 and then 14.6 cents in FY 2025. Based on the latest Accent share price of $1.92, this represents dividend yields of 6.8% and 7.6%, respectively.

ANZ Group Holdings Ltd (ASX: ANZ)

Ord Minnett thinks that this banking giant could be an ASX dividend stock to buy right now.

It was pleased to see that its proposed acquisition of Suncorp Bank is nearing completion. The broker believes the business will add scale to areas where the bank currently trails the rest of the big four.

In response, it reiterated its buy rating and $31.00 price target on ANZ’s shares.

As for dividends, Ord Minnett is forecasting fully franked dividends per share of $1.62 in FY 2024 and $1.65 per share in FY 2025. Based on the current ANZ share price of $29.02, this will mean dividend yields of 5.6% and 5.7%, respectively.

The post Buy these ASX dividend stocks with yields of 5% to 7.5% appeared first on The Motley Fool Australia.

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More reading

• How investing $100 per week can create $2,000 in annual ASX dividend income
• Is the blistering rally in ASX 200 bank shares overdone?
• Why Accent, Cettire, Dicker Data, and Iress shares are dropping today
• ANZ shares push higher amid asset sale and dividend bump hopes
• Why is the Accent share price sinking 6% today?

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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