If you’re wanting a passive income boost, then it could be worth checking out the ASX dividend stocks listed below.
All three have been named as buys and tipped to provide investors with attractive dividend yields in the coming years.
Here’s what you need to know about these dividend stocks:
Dexus Convenience Retail REIT (ASX: DXC)
The first ASX dividend stock that could be in the buy zone is Dexus Convenience Retail REIT. It owns a portfolio of service station and convenience retail assets located across Australia and concentrated on the eastern seaboard.
Morgans is positive on the company and has put an add rating and $3.23 price target on its shares.
As for dividends, the broker is expecting its shares to provide income investors with some very big yields in the coming years. It has pencilled in dividends per share of 21 cents in both FY 2024 and FY 2025. Based on its current share price of $2.69, this equates to yields of 7.8%.
Transurban Group (ASX: TCL)
A second ASX dividend stock that could be in the buy zone according to analysts is Transurban. It is a toll road operator with a high quality portfolio of roads across Australia and North America.
Citi believes that Transurban could be a top option for income investors right now and sees scope for some strong returns over the next 12 months. The broker currently has a buy rating and $15.60 price target on its shares.
As for income, Citi is expecting dividends per share of 63 cents in FY 2024 and 65 cents in FY 2025. Based on the current Transurban share price of $13.46, this will mean yields of 4.7% and 4.8%, respectively.
Universal Store Holdings Ltd (ASX: UNI)
A final ASX dividend stock that analysts think could be a buy is Universal Store. It is the youth fashion retailer behind the Universal Store, Perfect Stranger, Thrills, and Worship brands.
Morgans is also a fan of the company. It highlights that “UNI’s focus on offering high quality, fashionable apparel in a well presented store environment with high levels of service is paying off.”
The broker has an add rating and $6.50 price target on its shares.
As for dividends, Morgans is expecting fully franked dividends per share of 26 cents in FY 2024 and 29 cents in FY 2025. Based on the current Universal Store share price of $5.00, this will mean yields of 5.2% and 5.8%, respectively.
The post Buy these ASX dividend stocks for passive income appeared first on The Motley Fool Australia.
Should you invest $1,000 in Dexus Convenience Retail Reit right now?
Before you buy Dexus Convenience Retail Reit shares, consider this:
Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Dexus Convenience Retail Reit wasn’t one of them.
The online investing service heâs run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
And right now, Scott thinks there are 5 stocks that may be better buys…
See The 5 Stocks
*Returns as of 5 May 2024
More reading
- Here are the top 10 ASX 200 shares today
- 5 ASX 200 blue chip shares to buy now
- Buy these ASX dividend stocks for a passive income boost
- Morgans says these ASX stocks can rise 20% (and pay big dividends!)
- Forget term deposits and buy these ASX dividend shares
Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in Universal Store. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Transurban Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
Leave a Reply