3 excellent ASX dividend shares for income investors to buy now

ortunately for income investors, there are lots of options to build a passive income with on the Australian share market.

But which ones are buys?

Here are three ASX dividend shares that brokers are recommending to their clients.

ANZ Group Holdings Ltd (ASX: ANZ)

The first ASX dividend share to look at is ANZ.

The banking giant gives investors exposure to home loans, business banking, institutional banking, and customer deposits across Australia and New Zealand.

Banks are not without risks. Credit growth can slow, bad debts can rise, and margins can come under pressure when competition is intense.

But ANZ remains a major player in the Australian financial system and continues to generate large profits and dividends.

Citi is positive on the bank and currently has a buy rating and $39.25 price target on its shares. Based on the current share price of $34.51, that implies potential upside of almost 14%.

The broker expects dividends per share of 166 cents in FY 2026 and 175 cents in FY 2027. This equates to dividend yields of 4.8% and 5.1%, respectively.

Centuria Industrial REIT (ASX: CIP)

Another ASX dividend share that brokers think could be a top pick for income investors is Centuria Industrial REIT.

This property trust owns industrial assets across Australia. These properties can include warehouses, logistics facilities, and other industrial sites that support supply chains, storage, and distribution.

Industrial property has become an important part of the real estate market as businesses look for efficient logistics networks and well-located facilities.

Like all property trusts, Centuria Industrial is exposed to interest rates, borrowing costs, and asset valuations. But its focus on industrial property gives it exposure to a sector with solid long-term demand drivers.

Bell Potter is bullish and has a buy rating and $3.60 price target on its shares. Based on the current share price of $3.05, this suggests potential upside of approximately 18%.

As for income, the broker expects dividends per share of 16.8 cents in FY 2026 and 17.3 cents in FY 2027. This represents yields of 5.5% and 5.7%, respectively.

Harvey Norman Holdings Ltd (ASX: HVN)

A third ASX dividend share brokers are tipping as a buy is Harvey Norman.

The retailer is best known for furniture, electronics, appliances, bedding, and home-related products. It also has a substantial property portfolio, which adds another element to the investment case.

Retail conditions can be uneven when households are under pressure. But Harvey Norman has been through many consumer cycles before and remains one of Australia’s most recognisable retail brands.

Bell Potter currently has a buy rating and $6.70 price target on the shares. Based on the current Harvey Norman share price of $4.82, this implies potential upside of approximately 39%.

The broker is forecasting fully franked dividends of 29.8 cents per share in FY 2026 and 33.5 cents per share in FY 2027. This equates to dividend yields of 6.2% and 7%, respectively.

The post 3 excellent ASX dividend shares for income investors to buy now appeared first on The Motley Fool Australia.

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Citigroup is an advertising partner of Motley Fool Money. 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 positions in and has recommended Harvey Norman. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.