Category: Stock Market

The Link Administration Holdings Ltd (ASX: LNK) share price is ending the week with a huge decline.

In afternoon trade, the financial administration company’s shares are down 39% to $2.01.

This is an improvement on its performance earlier in the day when the Link share price was down as much as 45% to a record low of $1.80.

Why is the Link share price crashing lower?

The good news for shareholders is that today’s decline is not necessarily a bad thing.

Last month, Link announced that it had agreed to sell 10% of its existing 42.77% shareholding in property settlements platform company PEXA Group Ltd (ASX: PXA). This led to Link generating total net proceeds of $101.9 million, which will be used to repay its borrowings.

At the same time, management revealed that it would distribute its remaining shares in PEXA to Link shareholders via an in-specie distribution.

Shareholders approved this plan earlier this month. As a result, next month they will receive one PEXA share for every 7.52 Link shares held at the record date rounded down to the nearest whole PEXA share.

This means that if you owned 1,000 Link shares valued at $3,290 at yesterday’s close, you would receive 132 PEXA shares valued at approximately $1,569 next month.

This morning, Link shares traded ex-distribution for these PEXA shares, which means that the rights to the distribution are now with the shareholders on its share registry at yesterday’s close. They won’t transfer to buyers.

As a result, the Link share price has dropped to reflect this. After all, you wouldn’t want to pay for something that you won’t receive.

Eligible shareholders can now look forward to receiving their PEXA shares on 10 January.

When this distribution takes place, Link will have no direct ownership in PEXA. Instead, it will comprise of four global businesses with total revenue of over $1.1 billion and Operating EBITDA of over $250 million.

The post Why is the Link share price crashing 39% at the end of the week? appeared first on The Motley Fool Australia.

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More reading

• Why Core Lithium, Downer, Link, and Renascor shares are dropping today
• Why is the Link share price crashing 10% on Thursday?
• ASX 200 tech shares deep in the red today. Here’s why

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 Link Administration and PEXA Group. The Motley Fool Australia has no position in any of the stocks mentioned. 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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Income seekers are naturally drawn to ASX dividend shares for their regular payouts. Yet, many make the mistake of solely prioritising the dividend yield on offer.

Everyone’s personal circumstances are different. For younger investors, the focus might be capital appreciation potential — making a small, unpredictable yield perfectly fine. Whereas, those closer to retirement (or in it) are generally going to be more concerned about the predictability and longevity of their dividend income.

If I needed peace of mind that the dividends would keep flowing in for years — if not decades — to come, these are the 3 ASX dividend shares I would be holding.

These ASX dividend shares have moats for safety

A moat is some form of advantage that a company holds that gives it some level of protection from competition. If a moat is in place, there is a good chance the dividends will continue to grow as challengers are unable to take a bite out of the company’s profits.

Loyalty and network effects

The first ASX dividend share I’d be confident in saying will still be around in a decade and paying shareholders is Medibank Private Ltd (ASX: MPL).

This private health insurance provider holds the largest market share in Australia at 27.4%. Importantly, this affords Medibank the ability to hold greater bargaining power when negotiating for lower out-of-pocket expenses when customers visit health providers.

Additionally, the company provides a loyalty bonus to its longstanding members which can act as a type of switching cost. Members of Medibank are less inclined to go elsewhere as it will mean giving up an accumulated discount.

I believe these moats make Medibank a much safer dividend payer than other areas of the market. Right now, the company offers a 4.5% yield.

Recognition and switching costs

Sleeping disorders are becoming more prevalent in the modern era and one of the most trusted names in sleep solutions is Resmed CDI (ASX: RMD).

With earnings growing at a compound annual growth rate (CAGR) of 14.7% over the last six years; and a profit margin above 20%; it isn’t hard to see the evidence of some form of a moat in the hands of this medical device maker.

Once purchased, continuous positive airway pressure (CPAP) machines require ongoing part replacements. To its advantage, these devices can cost in excess of $1,500, deterring customers from going out and buying a competing product. As a result, the company continues to collect high-margin sales of its replacement parts.

Resmed currently pays a modest 0.8% dividend yield. However, there could be room for this to increase in the future as it only represents roughly 32% of profits at present.

Hard to beat this ASX dividend share

This final ASX dividend share on the list is a major beneficiary of economies of scale and cost leadership, in my opinion. Sonic Healthcare Limited (ASX: SHL) is one of the world’s largest providers of laboratory, pathology, and radiology services — holding a market presence that is hard to replicate.

Conducting medical testing requires extremely expensive equipment. That’s why Sonic has built a robust hub and spoke model over its 88 years of operation. This allows samples to be collected around the world and fed back to a handful of sites, running testing equipment 24/7.

The breadth of the testing equipment and the extensive reach of this model would take billions of dollars to contest. That’s why I’d be content relying on dividends to keep landing in my account from this ASX share for many years to come.

Sonic Healthcare is offering a dividend yield of 3.3% at the time of writing.

The post 3 of the safest ASX dividend shares on Earth appeared first on The Motley Fool Australia.

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More reading

• I think these are the 10 best ASX shares to buy for 2023
• Bell Potter names 3 stellar ASX 200 shares to own in 2023
• Here are the top 10 ASX 200 shares today
• 3 ASX shares I’d buy after each fell by over 30% this year
• Looking to buy ASX shares for your kids this Christmas? I think these are great options

Motley Fool contributor Mitchell Lawler has positions in Sonic Healthcare. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed. The Motley Fool Australia has recommended Sonic Healthcare. 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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The BHP Group Ltd (ASX: BHP) share price is edging higher on Friday.

In afternoon trade, the mining giant’s shares are up a fraction to $45.80.

Where next for the BHP share price?

With a new year upon us, investors may be wondering where the BHP share price is heading next.

With that in mind, I thought I would take a look to see what analysts are saying about the Big Australian’s shares at current levels.

And, as you might have guessed, after a strong showing in 2022, (see below) opinion is quite divided on the mining giant now.

What are brokers saying?

Most brokers are sitting on the fence with hold and neutral recommendations.

Morgans, for example, downgraded the miner’s shares to a hold rating with a $44.80 price target earlier this month. This is largely in line with where its shares trade today.

The broker explained that the downgrade was made on valuation grounds. It said:

We can certainly see the potential green shoots for a recovery in demand drivers for steel, but it is also not hard to see a fresh bout of volatility before that recovery takes hold. We view current share prices on our large-cap iron ore miners as suggesting we have to ‘pay up front’ for that potential recovery, leaving us with lower conviction. As a result we downgrade our rating on BHP and RIO to HOLD (from ADD), while maintaining a REDUCE on FMG.

UBS went one step further and downgraded the miner’s shares to a sell rating with a $40.00 price target a couple of weeks ago. It said:

The macro backdrop is still fragile with global growth slowing and China’s reopening challenging in winter, iron ore fundamentals are still weak, and the stock is expensive at normalized commodity prices with free cash flow yield less than 5% at $80/ton iron ore and $180/ton met-coal.

The lone bull

As far as I’m aware, the lone bull at present is Macquarie with its outperform rating and $50.00 price target. This implies potential upside of approximately 9% for investors in 2023.

Macquarie likes BHP due to its belief that current iron ore prices could lead to the mining giant outperforming estimates in FY 2023. The broker is also expecting a generous 6%+ dividend yield next year to sweeten the deal further.

Time will tell which brokers make the right call.

The post What are brokers saying about the BHP share price in 2023? appeared first on The Motley Fool Australia.

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More reading

• The 5 biggest threats to the stock market in 2023
• Iron ore price in 2023: Bull vs. bear
• Better buy for 2023: BHP vs. Fortescue shares
• 3 ASX shares that could benefit from a predicted copper price boom next year
• 5 things to watch on the ASX 200 on Wednesday

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 no position in any of the stocks mentioned. 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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ASX lithium shares are having a top run on the last trading day of 2022 in Australia.

Lithium shares charging higher include Pilbara Minerals Ltd (ASX: PLS), Core Lithium Ltd (ASX: CXO), Sayona Mining Ltd (ASX: SYA) and Allkem Ltd (ASX: AKE). For perspective, the S&P/ASX 200 Index (ASX: XJO) is lifting 0.53% today.

Let’s take a look at what is going on with ASX lithium shares.

What’s going on?

Core Lithium shares are surging 5.13% today while Sayona Mining shares are surging 6.94%. The Allkem share price is climbing 2.16%. while Pilbara shares are lifting 1.77%.

Lithium giants on Wall Street also leapt higher overnight. For example, the Sociedad Quimica y Minera de Chile (NYSE: SQM) share price jumped 2.9%, while Albemarle Corporation (NYSE: ALB) shares jumped 1.6%.

Investor sentiment on electric vehicle (EV) demand could be boosting lithium shares today. Lithium is an essential component of EV batteries.

In the USA on Thursday, the treasury department revealed EVs leased by consumers can qualify for $7,500 in tax credits. This will also apply to EVs assembled outside America, Reuters reported.

Meanwhile, big name electric vehicles are set to be launched in Australia in 2023, the Canberra Times reported. Toyota, Fiat, Subaru and Ford are among the big name car companies planning to sell EVs in Australia.

Core Lithium is targeting first spodumene concentrate production from the Finniss Lithium project in the first half of 2023.

Sayona Mining is planning to produce lithium concentrate at the North American Lithium project in Quebec in the first quarter of 2023.

Share price snapshot

The Pilbara Minerals share price has climbed 16% in the last year.

Core Lithium shares have lifted 78% in the last 52 weeks.

The Sayona Mining share price has soared 48% in the past year.

The Allkem share price has climbed 8% in the last year.

The post Why are ASX 200 lithium shares charging higher today? appeared first on The Motley Fool Australia.

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More reading

• Could the superprofits of ASX lithium shares be in danger next year?
• Could investing in the ASX 200 make me a millionare within a decade?
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares today
• The top five ASX 200 shares in Macquarie’s model portfolio

Motley Fool contributor Monica O’Shea 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 no position in any of the stocks mentioned. 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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The Flight Centre Travel Group Ltd (ASX: FLT) share price is on course to end a difficult year on a positive note.

At the time of writing, the travel agent giant’s shares are up 1.5% to $14.42.

However, as you can see below, Flight Centre shares will still end the year with a 12-month decline of over 20%.

Are Flight Centre shares trading at a New Year discount?

Flight Centre certainly is an interesting case.

I’m not aware of a single broker that has a buy rating on Flight Centre shares at the moment.

However, there are a large number of brokers that have price targets that imply material upside potential for its shares in 2023.

For example, earlier this month, analysts at Macquarie put a neutral rating and $17.35 price target on the company’s shares. This implies potential upside of 20% for investors from current levels.

Elsewhere, Citi currently has a neutral rating and $16.60 price target on its shares. If the Flight Centre share price were to reach that level, it would mean a 15% gain for investors from where it trades today.

Finally, Goldman Sachs currently has a neutral rating and $16.10 price target, which suggests potential upside of almost 12% for investors.

These analysts appear to be waiting for signs that margin pressures are easing before considering an upgrade to buy. Goldman Sachs commented:

Following the trading update flagging stronger than expected TTV trends, we revise our TTV expectations by +5.6%/3% respectively over FY23/24. However, we expect revenue margins to continue trending weaker into FY24 as inflation led recovery is only expected to normalize into late FY24.

Short interest

It is also worth noting that Flight Centre shares are the most shorted on the Australian share market, with a massive 14.7% of its shares held short.

Clearly, these short sellers believe its shares are overvalued and can still fall meaningfully from current levels, which is a risk for investors to consider.

Though, conversely, if sentiment shifts quickly, we could be in for an almighty short squeeze in 2023 given how much of its free float is held short.

All in all, it certainly makes Flight Centre one to watch closely next year.

The post Are Flight Centre shares trading at a New Year discount? appeared first on The Motley Fool Australia.

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More reading

• Why is the Flight Centre share price in the red today?
• Bought $1,000 of Flight Centre shares 10 years ago? Here’s how much dividend income you’ve received
• Here are the 10 most shorted ASX shares
• Here are the 10 most shorted ASX shares
• Looking to buy Flight Centre shares? Here’s why this insider tips 2023 to be a big year for business

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 Flight Centre Travel 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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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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Receiving passive income from my ASX dividend shares gives me a very satisfying feeling.

We don’t need to do any work ourselves to keep receiving the stream of dividends year after year. That’s down to the business to keep generating profits and the leadership’s decision to keep rewarding shareholders.

The great thing about passive income from ASX shares

Interest rates have shot higher this year. This means that investors can get a higher return than before from term deposits and savings accounts. I think that’s a good thing. Savers deserve a good return from money in the bank.

But, if a savings account earns $100 in interest, some (or all) of that money needs to stay in the bank account for it to earn higher interest next time (assuming the RBA hasn’t just increased the official cash rate).

But, ASX dividend shares have the ability to pay out some of its profit as a dividend and re-invest the retained amount to grow the dividend for next time. People can decide to spend that dividend if they want to, and hopefully still get a larger dividend next time.

I rely on ASX shares for dividend income

My investment strategy is to pick businesses that I think can grow their profit and dividends over the long term. I’ve written a number of articles about the shares I own and why.

In my opinion, it’s great to own businesses that pay me a larger passive income amount most years (or every year). It is easier to focus on the long-term if growing dividends keep flowing into my bank account, compared to seeing the market’s gyrations and volatility.

A bonus with many ASX dividend shares is that they attach franking credits to dividend payments. Franking credits are refundable tax offsets, improving the tax position for Australian tax residents.

Dividends are not guaranteed payments, but businesses that are growing their payouts are steadily increasing the cash return for investors.

One of the longest-running consecutive annual dividend increase records belongs to APA Group (ASX: APA) shares.

The bonus ‘secret sauce’ of dividend investing

For me, one of the great things about quality ASX dividend shares is that if they are growing the profit, they can fund bigger payments.

But, a secret sauce is that as profits rise over the years, investors are likely to value that profit generation at a higher level. In other words, higher profits can lead to capital growth with an improvement in the share price.

So, good ASX dividend shares can offer a solid starting dividend yield, dividend growth and potential capital growth as well.

I think passive investment income can be a great way to fund my future life, which is why I’m building up my portfolio.

The post How passive income generates free money for life (with a secret sauce!) appeared first on The Motley Fool Australia.

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More reading

• 3 ASX shares under $5 with 7%+ dividend yields
• The 5 biggest threats to the stock market in 2023
• How big will the CBA dividend be in 2023?
• Could the superprofits of ASX lithium shares be in danger next year?
• Could investing in the ASX 200 make me a millionare within a decade?

Motley Fool contributor Tristan Harrison 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 Apa 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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Becoming a share market millionaire is a dream that I’m sure many Australians have.

The good news is that it is attainable for anybody if you have time, funds to invest, and a plan.

But could you become a millionaire in just a decade by investing in ASX 200 shares? Well, the short answer is yes.

Becoming a millionaire in 10 years with ASX 200 shares

As of the end of 2021, over the last three decades, the Australian share market has generated an average annual return of 9.6% per annum. This is broadly in line with the historical returns of global share markets.

And while past performance does not guarantee future returns, I would be disappointed if we didn’t average something similar over the next 10 years.

Based on this, if you made a single $400,000 investment into the share market and earned 9.6% per annum for 10 years, your portfolio would grow to be worth just over $1 million.

Of course, very few people have that level of capital ready to sink into the share market, so that isn’t viable for all.

If you’re lucky enough to have $50,000 available to invest every year, then those investments would eventually grow to be worth $1 million after 10 years if you earned the same level of return.

What if you don’t have this level of capital?

If you don’t have that amount of capital to invest, your quest to become a share market millionaire in the space of 10 years will come down to luck, I’m afraid.

If you can identify a small cap ASX share that has the potential to become a 100-bagger (generate a return 100 times your original investment), then you could become a millionaire by investing $10,000.

These investments are very rare, but they do exist. For example, lithium giant Pilbara Minerals Ltd (ASX: PLS) has generated a return of 63.5% per annum over the last 10 years despite its recent pullback. This would have turned $10,000 into approximately $1.4 million.

Slow and steady wins the race

Investors that don’t have a huge amount of capital to invest may be better taking the slow and steady approach instead of relying on luck.

By investing $10,000 each year for a period of 24 years, you would have grown your portfolio to over $1 million if you earned an average annual return of 9.6%.

The post Could investing in the ASX 200 make me a millionare within a decade? appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares today
• The top five ASX 200 shares in Macquarie’s model portfolio
• Why is the Flight Centre share price in the red today?
• 3 ASX lithium shares to buy with 40%+ upside: analysts

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 no position in any of the stocks mentioned. 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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If you’re interested in investing at the small side of the market, then you may want to look at the ASX shares below.

These small cap ASX shares have been rated as buys and tipped to have major upside potential in 2023. Here’s what you need to know about them:

Catapult Group International Ltd (ASX: CAT)

The first small cap ASX share to look at is Catapult. It is a global sports technology company that provides elite sporting organisations with real time data and analytics to monitor and measure athletes. It has been growing its annualised contract value (ACV) at a solid rate in recent years. Pleasingly, this has continued in FY 2023 despite the tough economic environment. In November, it reported a 21% increase in ACV on a constant currency basis to US$70 million during the first half. Another positive was its record-level retention, with ACV churn at just 4%. Looking ahead, management expects its full year ACV growth to be at least 20% with ACV churn in the range of 4.5% to 6%.

The team at Canaccord Genuity appears to have been pleased with its performance. The broker currently has a buy rating and $1.50 price target on the company’s shares. This compares to the latest Catapult share price of 72 cents.

Hipages Group Holdings Ltd (ASX: HPG)

A final ASX small cap share to look at is Hipages. It is a leading online platform provider that provides job leads to tradies from homeowners and organisations looking for qualified professionals. While the tough economic environment has stifled its growth in FY 2023, it is still growing a solid rate. First quarter revenue was up 8% over the prior corresponding period to $16.1 million. This was driven by an increase in average revenue per user, job volumes, and subscriptions.

Analysts at Goldman Sachs are very positive on the company due to their belief that the company can capture a significant portion of industry advertising spend in the future. In fact, the broker has likened Hipages to the early days of Carsales.com Ltd (ASX: CAR) and REA Group Limited (ASX: REA).

Goldman currently has a buy rating and $2.10 price target on its shares. This is more than double the current Hipages share price of 97.5 cents.

The post These exciting small cap ASX shares could double in 2023: analysts 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 positions in and has recommended Catapult Group International and Hipages Group. The Motley Fool Australia has positions in and has recommended Catapult Group International and Hipages 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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If you’re looking for dividend shares to buy, then the two listed below could be worth checking out.

Both have been named as buys by analysts recently and tipped to provide very attractive yields. Here’s what you need to know about them:

Accent Group Ltd (ASX: AX1)

This footwear and apparel retailer could be an ASX dividend share to buy right now.

It is the owner of a growing portfolio of retail brands such as Hype DC, The Athlete’s Foot, Glue, Platypus, Nude Lucy, Sneaker Lab, and Stylerunner.

Goldman Sachs is a fan of the company and highlights that its “diversified product exposure includes a number of product categories which we believe are resilient in the current cycle including youth footwear (Platypus, Hype), youth apparel (Glue, Nude Lucy), performance footwear (TAF), and a higher income consumer (Stylerunner).”

In light of this, the broker believes the company is well-placed to pay 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 $1.66, this will mean yields of 6.1% and 6.8%, respectively.

Goldman also sees plenty of upside for its shares in 2023 with its buy rating and $2.20 price target.

Coles Group Ltd (ASX: COL)

Another ASX dividend share that has been tipped as a buy is Coles.

It is of course one of Australia’s largest supermarket and liquor store operators with over 800 supermarkets and over 900 liquor retail stores.

But Coles isn’t stopping there and continues to grow its network each year. In addition, the company is aiming to grow its online operations and make its overall operations more efficient with the construction of automated distribution centres.

Morgans is positive on the company’s outlook and has an add rating with a $19.50 price target on its shares. It is also expecting attractive fully franked dividends per share of 64 cents in FY 2022 and 66 cents in FY 2023.

Based on the current Coles share price of $16.80, this implies yields of 3.8% and 4%, respectively.

The post Brokers say these top ASX dividend shares are buys for 2023 appeared first on The Motley Fool Australia.

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• 2 defensive ASX dividend shares to buy for 2023: experts
• Bell Potter names the best ASX shares to buy in 2023
• How to swap your job for $75,000 in retirement income using ASX dividend shares
• Yields of up to 7%… 3 ASX dividend shares I’d buy to hold for 10 years
• These quality ASX dividend shares are buys: 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 no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Coles Group. 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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