Experts say these ASX dividend shares are buys this month

Are you looking for dividend shares to buy in July? If you are, then you might want to look at the shares listed below.

Here’s why these ASX dividend shares are rated as buys:

Accent Group Ltd (ASX: AX1)

The first ASX dividend share that has been rated as a buy is footwear focused retailer, Accent.

The retailer, which owns a range brands such as Athlete’s Foot and HypeDC, has seen its shares sink notably lower this year amid concerns over the weak consumer environment.

While its sales appear likely to be impacted by rising living costs, they are being tipped to rebound in FY 2023. Combined with its ongoing store rollout, this bodes well for its earnings and dividends.

Bell Potter remains positive and appears to believe recent share price weakness is a buying opportunity. Its analysts recently reiterated their buy rating and $2.20 price target on its shares.

As for dividends, Bell Potter is forecasting fully franked dividends of 5.8 cents per share in FY 2022 and then 10.7 cents per share in FY 2023. Based on the current Accent share price of $1.43, this will mean yields of 4% and 7.5%, respectively.

National Australia Bank Ltd (ASX: NAB)

Another ASX dividend share that could be in the buy zone in July is banking giant NAB.

Like Accent, recent market volatility has dragged its shares notably lower. Investors appear concerned that a recession could be on the horizon and negatively impact the banks.

One broker that remains positive is Goldman Sachs. In fact, its analysts recently reiterated their conviction buy rating with an improved price target of $34.26.

Goldman believes NAB’s balance sheet mix provides the best exposure to the domestic system growth over the next 12 to 18 months.

In respect to dividends, the broker is forecasting a $1.51 per share dividend in FY 2022 and then a $1.68 per share dividend in FY 2023. Based on the current NAB share price of $28.11, this will mean fully franked yields of 5.4% and 6%, respectively.

The post Experts say these ASX dividend shares are buys this month appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• What’s the outlook for ASX 200 dividend shares in FY23?
• Could rising rates hurt ASX 200 bank shares in the longer run?
• Why experts rate these top ASX dividend shares as buys
• What’s going on with ASX 200 bank shares on Tuesday?
• Why did the NAB share price backtrack 12% in June?

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 recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

from The Motley Fool Australia https://ift.tt/PDbzeUG