If you’re looking for dividend shares to lift your income, then you may want to check out the two listed below.
Here’s why these ASX dividend shares have been rated as buys:
Centuria Industrial Reit (ASX: CIP)
The first ASX dividend share to look at is Centuria Industrial. It is the owner of a portfolio of high-quality and in-demand industrial assets found across key metropolitan locations throughout Australia.
Ord Minnett was impressed with the company’s performance in FY 2022 and remains positive on the future. Particularly given its belief that Centuria Industrial provides the best exposure to industrial assets. As a result, it recently put a buy rating and $3.70 price target on its shares.
And pleasingly, with demand for industrial properties remaining strong, Ord Minnett expect the company to be in a position to pay some very attractive dividends in the near term.
The broker is forecasting a 16 cents per share distribution in FY 2023 and a 17 cents per share distribution in FY 2023. Based on the current Centuria Industrial share price of $2.70, this will mean yields of 5.9% and 6.3%, respectively
Westpac Banking Corp (ASX: WBC)
Another ASX dividend share that has been rated as a buy is banking giant Westpac.
Australia’s oldest bank’s shares were on fire last week after the result of a rival bank appeared to indicate that sector profitability is being boosted more than expected by rising interest rates.
The good news is that Goldman Sachs still sees plenty of upside ahead for the company’s shares. It currently has a conviction buy rating and $27.08 price target on the bank’s shares.
Goldman believes that Westpac is the best bank to buy due to its “strong leverage to rising rates” and cost cutting plans.
As for dividends, Goldman is forecasting fully franked dividends per share of 123 cents in FY 2022 and 135 cents in FY 2023. Based on the current Westpac share price of $23.50, this will mean yields of 5.2% and 5.7%, respectively.
The post Income investors should buy these ASX dividend shares next week: experts appeared first on The Motley Fool Australia.
More reading
- Top broker says ‘we struggle to see CBA underperforming peers’. Here’s why
- Here are the top 10 ASX 200 shares today
- Why Atlantic Lithium, Elmo, Qantas, and Westpac shares are pushing higher
- Why are ASX 200 bank shares having such a top run on Thursday?
- Leading broker says Westpac share price can rise a further 17% from here
Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. 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 Westpac Banking Corporation. 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/9Uf7EPD
Leave a Reply