Experts name 2 ASX dividend shares for income investors to buy

If you’re looking to boost your income portfolio this week, then you may want to look at the shares listed below.

Here’s why these ASX dividend shares could be worth considering right now:

Elders Ltd (ASX: ELD)

The first ASX dividend share for income investors to consider is Elders. It is one of the leading agribusiness companies in the ANZ region.

The team at Goldman Sachs is very positive on the company and has a buy rating and $21.00 price target on its shares.

The broker likes Elders due to its “strong track record; good industry structure; potential for positive earnings surprise; and an attractive valuation.”

Goldman is also expecting some attractive dividends yields in the coming years. It is forecasting dividends per share of 50 cents in FY 2022 and 53 cents in FY 2023. Based on the current Elders share price of $12.51, this implies attractive yields of 4% and 4.2%, respectively.

South32 Ltd (ASX: S32)

Another ASX dividend share that could be a top option for income investors is South32.

It is a mining giant with operations covering a range of commodities such as aluminium, coal, copper, manganese, and nickel. Many of these commodities are used in electric vehicles, which puts the company in a good position to benefit from the electric vehicle boom.

Morgans is a fan of the company and has an add rating and $5.50 price target on its shares. The broker likes South32 due to its attractive valuation, the de-risking of its growth portfolio, and its earnings-linked dividend policy.

It is expecting the latter to support some very big dividends in the coming years. Morgans is forecasting fully franked dividends per share of 29.4 cents in FY 2023 and 22.4 cents in FY 2024. Based on the current South32 share price of $3.90, this will mean yields of 7.5% and 5.75%, respectively.

The post Experts name 2 ASX dividend shares for income investors to buy appeared first on The Motley Fool Australia.

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More reading

• Morgan Stanley just boosted its outlook for aluminium. Here’s which ASX shares have exposure
• Here are the 3 most heavily traded ASX 200 shares on Thursday
• Why Lake, Pushpay, South32, and Tyro shares are dropping
• Why a leading fund manager rates these 2 ASX 200 mining shares as buys
• Why is the South32 share price sinking 7%?

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 Elders Limited. 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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