If you’re wanting to beat the ultra-low interest rates on offer with term deposits, then you might want to look to the share market.
Two ASX dividend shares that offer investors attractive yields right now are listed below. Here’s what you need to know about them:
Bravura Solutions Ltd (ASX: BVS)
Bravura is a leading wealth management and transfer agency software solution provider. Its key product is the Sonata wealth management platform, which streamlines the administration of a full range of wealth management products. It also allows users to connect with their clients through the web and mobile devices. In addition to this, Bravura has a number of other solutions with large addressable markets. This includes the Rufus transfer agency solution, the Garradin back office solution, and the Midwinter financial planning solution.
Goldman Sachs is positive on the company and has a buy rating and $4.50 price target on its shares. The broker is also forecasting a 10.6 cents per share dividend in FY 2021. Based on the current Bravura share price, this represents a 3.2% dividend yield.
Wesfarmers Ltd (ASX: WES)
Wesfarmers is a leading conglomerate that owns a wide range of popular businesses including Kmart, Target, Catch, Officeworks, and Bunnings. The latter is the company’s biggest contributor to its overall earnings. Which has been a big positive this year, as the hardware giant has been in fine form. Pleasingly, it has continued this positive trend in FY 2021 and delivered sales growth of 25.2% for the first four months of the financial year.
According to a note out of Morgan Stanley from last month, its analysts have pencilled in a 160 cents per share fully franked dividend in FY 2021. Based on the current Wesfarmers share price, this represents an attractive forward 3.2% dividend yield.
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Returns As of 6th October 2020
More reading
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- 2 ASX blue chip dividend shares with yields over 4% today
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Bravura Solutions Ltd. The Motley Fool Australia owns shares of Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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