Buy BHP and these ASX dividend shares

Are you looking for some new additions to your income portfolio? If you are, then read on.

That’s because listed below are three ASX dividend shares that analysts have named as buys and tipped to offer 5%+ dividend yields in 2024.

Here’s what you need to know about these shares:

BHP Group Ltd (ASX: BHP)

The first ASX dividend share that could be a buy is BHP. It is one of the world’s largest miners with a high-quality portfolio of assets across several commodities and geographies.

Goldman Sachs is positive on the Big Australian. In response to its half-year results, the broker retained its buy rating with a $49.40 price target.

As for income, its analysts are expecting the mining giant to provide investors with attractive dividend yields in the near term.

They are forecasting fully franked dividends of approximately ~$2.19 per share in FY 2024 and then ~$1.94 per share in FY 2025. Based on the current BHP share price of $42.82, this equates to yields of 5.1% and 4.5%, respectively.

Rural Funds Group (ASX: RFF)

Another ASX dividend share that has been named as a buy is Rural Funds.

It is an agricultural property company that leases almond orchards, macadamia orchards, poultry property and infrastructure, vineyards, cattle properties, cropping properties, cattle and water rights.

Bell Potter currently has a buy rating and $2.40 price target on its shares.

In respect to dividends, the broker is forecasting dividends per share of 11.7 cents in both FY 2024 and FY 2025. Based on the current Rural Funds share price of $2.13, this will mean yields of 5.5% in both years for investors.

Stockland Corporation Ltd (ASX: SGP)

Finally, this residential and land lease developer and retail, logistics and office real estate property manager could be a third ASX dividend share to buy right now.

Citi is feeling very positive about the company. So much so, it currently has a buy rating and $5.00 price target on its shares.

As for income, Citi is forecasting dividends per share of 26.2 cents in FY 2024 and 26.6 cents in FY 2025. Based on the Stockland share price of $4.67, this represents dividend yields of 5.6% and 5.7%, respectively.

The post Buy BHP and these ASX dividend shares appeared first on The Motley Fool Australia.

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• Why Adairs, BHP, Deep Yellow, and Woodside shares are dropping today
• Why these 3 ASX 200 shares grabbed the Motley Fool’s headlines this record-breaking week
• These brave investors are earning a 9% dividend yield on BHP shares! Here’s how

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. The Motley Fool Australia has positions in and has recommended Rural Funds 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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