3 ASX shares under $5 with 7%+ dividend yields

If you’re looking for income options in 2023, then read on!

Listed below are three high-yield ASX dividend shares that you can pick up for less than the cost of a coffee.

Here’s why they have been tipped as buys:

Adairs Ltd (ASX: ADH)

Adair could be an ASX dividend share to buy. It is the leading furniture and homewares retailer behind the Adairs, Focus on Furniture, and Mocka brands.

According to a note out of Goldman Sachs, its analysts believe a big dividend is coming in 2023. This forecast is based on the broker’s belief that Adairs’ core business is far more resilient than the market is giving it credit for.

The broker is forecasting a fully franked dividend of 17 cents per share in FY 2023. Based on the current Adairs share price of $2.18, this will mean a 7.8% dividend yield.

Goldman has a buy rating and $2.65 price target on its shares.

Coronado Global Resources Inc (ASX: CRN)

Coronado Global Resources is a low cost global coal producer and exporter via a portfolio of operating mines in Queensland and the United States. Thanks to sky high coal prices, it has been tipped to deliver bumper earnings and dividends next year.

For example, Macquarie is expecting the coal miner to reward its shareholders with a 70 cents per share dividend in FY 2023. Based on the current Coronado Global share price of $1.99, this will mean a whopping 35% dividend yield.

Macquarie has an outperform rating and $2.80 price target on its shares.

Stockland Corporation Ltd (ASX: SGP)

A final high yield ASX dividend share that has been tipped as a buy is Stockland. It is a residential and land lease developer and retail, logistics and office real estate property manager.

Goldman Sachs is also positive on the company and has a buy rating and $4.40 price target on its shares.

Its analysts are expecting a 27.6 cents per share dividend in FY 2023. Based on the current Stockland share price of $3.66, this will mean a yield of 7.5%.

The post 3 ASX shares under $5 with 7%+ dividend yields appeared first on The Motley Fool Australia.

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More reading

• The ASX 200 share than turned a $5,000 investment into $2,400 of passive income in 2022
• Boost your passive income with these ASX dividend shares after Christmas: Brokers
• Here are the top 10 ASX 200 shares today
• 10 ASX shares I think are buys for 2023
• The cheap ASX shares to buy for dividends: Goldman Sachs

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 positions in and has recommended Adairs. The Motley Fool Australia has positions in and has recommended Adairs. 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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