Buy Telstra and these ASX dividend shares next week

Are you on the lookout for some ASX dividend shares to buy when the market reopens? If you are, read on because there are three quality options listed below that have recently been named as buys and tipped to offer attractive dividend yields.

Here’s what analysts are saying about these income options:

Coles Group Ltd (ASX: COL)

Analysts at Morgans think that Coles would be a top ASX dividend share to buy when the market reopens. It is of course one of Australia’s largest supermarket operators. In addition, it has a large liquor store network under brands including Vintage Cellars and Liquorland.

Morgans was impressed with its performance in the first half, noting that its earnings came in ahead of expectations. It also highlights that its sales growth early in the second half has been stronger than its arch rival.

In light of this, it is now forecasting fully franked dividends of 66 cents per share in FY 2024 and 69 cents per share in FY 2025. Based on the current Coles share price of $16.39, this implies yields of approximately 4% and 4.2%, respectively.

Morgans has an add rating and $18.70 price target on its shares.

Orora Ltd (ASX: ORA)

Goldman Sachs continues to believe that this packaging company could be an ASX dividend share to buy despite its bleak update last week.

While its disappointing update has led to earnings estimates downgrades and a trimmed valuation, the broker still expects some big (and growing) dividend yields in the coming years.

Goldman is forecasting dividends per share of 12 cents in FY 2024, 13 cents in FY 2025, and 15 cents in FY 2026. Based on the current Orora share price of $2.21, this will mean yields of 5.4%, 5.9%, and 6.8%, respectively.

The broker has a buy rating and $3.00 price target on its shares.

Telstra Corporation Ltd (ASX: TLS)

Another ASX dividend share that Goldman Sachs is a fan of is Australia’s largest telco, Telstra.

It likes the company due to its low risk earnings and dividend growth over the coming years.

The broker expects this to underpin 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 $3.83, this equates to yields of 4.7% and 5%, respectively.

Goldman has a buy rating and $4.55 price target on Telstra’s shares.

The post Buy Telstra and these ASX dividend shares next week appeared first on The Motley Fool Australia.

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• Bell Potter names the best ASX 200 shares to buy in April

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 Coles Group and Telstra Group. The Motley Fool Australia has recommended Orora. 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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