Experts name 2 ASX shares with fully franked dividend yields to buy next week

Are you looking for ASX dividend shares to buy next week? If you are, then you may want to check out the two listed below that have been named as buys.

Here’s why analysts rate them highly right now:

Accent Group Ltd (ASX: AX1)

The first ASX dividend share for income investors to look at is Accent. It is the owner of retail brands such as Hype DC, The Athlete’s Foot, Glue, Platypus, and Stylerunner.

Goldman Sachs is a fan of the company. In fact, last week the broker initiated coverage on Accent’s shares with a buy rating and $2.20 price target.

Its analysts like the retailer due to its exposure to younger consumers, which it feels are better placed to continue spending in the current environment thanks to a rise in the minimum wage. It commented:

AX1 has a growing exposure to a younger consumer base, which we believe will prove more resilient than the overall population in a rising rate environment. The acquisition of Glue in 2021 further skews this mix towards a younger consumer. In addition to youth exposure, AX1 is also exposed to sports/performance footwear, which we view as an attractive end market given the consumable nature of performance footwear with a less discretionary replacement cycle vs. fashion footwear.

As for dividends, Goldman is forecasting fully franked dividends of 10.2 cents per share in FY 2023 and 11.4 cents per share in FY 2024. Based on the current Accent share price of $1.65, this will mean yields of 6.2% and 6.9%, respectively.

Coles Group Ltd (ASX: COL)

This supermarket giant could be another ASX dividend share to buy. Morgans currently has an add rating and $19.50 price target on its shares.

The broker like Coles for a number of reasons. These include its defensive qualities, attractive valuation, and generous yield. The broker commented:

Trading on 20.6x FY23F PE and 4.0% yield, we continue to see COL as offering good value with the company’s solid balance sheet and defensive characteristics putting it in a good position to navigate through a weaker economic environment. The unwinding of local shopping should also help further market share gains.

In respect to dividends, Morgans is forecasting fully franked dividends of 64 cents per share in FY 2023 and a 66 cents per share in FY 2024. Based on the current Coles share price of $16.94, this will mean yields of 3.8% and 3.9%, respectively.

The post Experts name 2 ASX shares with fully franked dividend yields to buy next week appeared first on The Motley Fool Australia.

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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 COLESGROUP DEF SET. 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.

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