Want an income boost? Buy ANZ Bank and these ASX dividend stocks

The good news for income investors is that there are plenty of ASX dividend stocks to choose from on the Australian share market.

But which ones are brokers tipping as buys in April?

Let’s take a look at three that have been given the thumbs up by analysts:

Accent Group Ltd (ASX: AX1)

The team at Bell Potter thinks that income investors should check out Accent Group. It is footwear focused retailer operating over 800 stores, 34 brands, and 35 online platforms. Its store brands include Sneaker Lab, Platypus, Stylerunner, and The Athlete’s Foot.

The broker likes the company 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.”

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 $1.96, this represents dividend yields of 6.6% and 7.4%, respectively.

Bell Potter has a buy rating and $2.50 price target on its shares.

ANZ Group Holdings Ltd (ASX: ANZ)

If you don’t already have exposure to the big four banks, then Ord Minnett thinks that ANZ Bank could be an ASX dividend stock to buy this month.

It recently stated its belief that the proposed acquisition of Suncorp Bank will add scale to areas where the bank currently trails the rest of the big four. The good news is that this transaction is now nearing completion after finally gaining regulatory approval.

In the meantime, 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 $29.16, this will mean dividend yields of 5.5% and 5.65%, respectively.

The broker has a buy rating and $31.00 price target on ANZ’s shares.

Transurban Group (ASX: TCL)

A third ASX dividend stock that could be a buy according to analysts at Citi is Transurban. It is one of the world’s leading toll road operators, building and operating toll roads in Melbourne, Sydney and Brisbane, as well as in Greater Washington, United States, and Montreal, Canada.

Citi is a fan of the company and believes it is positioned to pay a dividend ahead of guidance in FY 2024. 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 $13.29, this will mean yields of 4.75% and 4.9%, respectively.

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

The post Want an income boost? Buy ANZ Bank and these ASX dividend stocks appeared first on The Motley Fool Australia.

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More reading

• Get paid huge amounts of cash to own these ASX dividend shares
• If I invest $10,000 in Transurban shares, how much dividend income will I receive?
• 5 excellent ASX dividend stocks to buy in April
• These ASX 300 dividend shares offer yields of 5% to 8%
• Here are the top five ASX 200 stocks in Macquarie’s model income portfolio

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 Transurban Group. 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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