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If you’re looking to boost your income with some dividend shares, then you might want to consider the ones listed below.

Here’s why analysts have given them buy ratings:

Telstra Corporation Ltd (ASX: TLS)

The first ASX dividend share to look at is Australia’s largest telco, Telstra.

It certainly has been an eventful few years for Telstra. After several years of earnings and dividend declines, a return to growth is finally in sight for the company. This is being driven by the easing NBN headwind, significant cost cutting, and its leadership position in 5G internet.

In addition to this, the company is looking to split up the company and offload assets such as its towers. This is expected to unlock significant value for shareholders.

In light of the above, the dividend cuts appear to be over and 16 cents per share looks likely to be the bottom. Goldman Sachs is confident of this and is forecasting fully franked 16 cents per share dividends for the foreseeable future. Based on the current Telstra share price of $3.43, this will mean a 4.7% yield.

Goldman has a buy rating and $4.00 price target on the company’s shares.

Transurban Group (ASX: TCL)

Another ASX dividend share to look at is Transurban. It is one of the world’s leading toll road operators with 17 roads in Australia and four in North America. It also has a significant project pipeline across its networks that could support its growth in the coming years.

While traffic volumes have been lower because of the pandemic, they have been improving greatly. For example, during the month of March, Transurban’s monthly traffic was down just 5% compared to the prior corresponding period. This was an improvement from an 11% decline in February. This trend is likely to continue as vaccines roll out and life returns to normal in its key markets.

Ord Minnett appears confident this will be the case and is expecting it to lead to a rebound in distributions in FY 2022. The broker is forecasting dividends of 37 cents per share in FY 2021 and then 58 cents per share next year. Based on the latest Transurban share price of $13.84, this will mean forward yields of 2.7% and 4.2%, respectively.

The broker has a buy rating and $16.00 price target on the company’s shares.

More reading

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• 2 buy-rated blue chip ASX 200 shares for investors in May

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As a big fan of growth shares, I feel very fortunate that the ASX is not short of quality options for growth investors.

But with so many to choose from, which ones should you buy? Two top growth shares for investors to look at today are listed below. Here’s what you need to know about them:

ELMO Software Ltd (ASX: ELO)

The first growth share to look at is ELMO. It is a growing cloud-based human resources and payroll software company that provides businesses in the ANZ and UK markets with a unified platform that streamlines a wide range of everyday processes.

ELMO has been growing at a very strong rate over the last few years and has continued the trend in FY 2021. This is being driven by organic growth and the acquisitions of complementary businesses Breathe and Webexpenses.

ELMO recently released a trading update and revealed that it expects to report annualised recurring revenue (ARR) of $83 million to $85 million in FY 2021. This will be up 50.5% to 54.2%, respectively, on FY 2020’s ARR of $55.1 million.

The good news is that this is still only a small slice of its overall market opportunity. Management estimates that it has a $12.8 billion opportunity across the ANZ and UK markets.

Morgan Stanley is a fan of the company. Last week it retained its overweight rating and $9.70 price target on its shares. The ELMO share price ended the week at $4.72.

Xero Limited (ASX: XRO)

Another ASX growth share to look at is Xero. It provides small and medium sized businesses with a cloud-based business and accounting solution.

Xero has been growing strongly over the last few years thanks to its international expansion, acquisitions, and the transition to the cloud. Positively, all these drivers remain in place and should be supported by its burgeoning app ecosystem.

It is this app ecosystem that has analysts at Goldman Sachs particularly excited. They believe that if Xero can successfully monetise the ecosystem and execute its international expansion, it could support decades of strong revenue growth.

The broker currently has a buy rating and $153.00 price target on its shares. The Xero share price ended the week at $127.20.

More reading

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There are a handful of ASX shares that are expected to pay very big dividend yields in FY21.

Businesses have a relatively low price/earnings ratio and have a high dividend payout ratio can lead to high dividend yields.

However, dividends are not guaranteed year to year. They can be cut quite substantially during difficult times.

These two ASX dividend shares are expected to have high dividend yields this financial year:

Adairs Ltd (ASX: ADH)

Looking at the trailing grossed-up dividend yield of Adairs, it is currently 7.5%.

But brokers are expecting more growth of the dividend with the full year result. Ord Minnett expects Adairs to pay a FY21 dividend of $0.28 per share, which would be a grossed-up dividend yield of 8.8%. Morgans is expecting an even bigger dividend from Adairs – a full year payout of $0.31 per share, which would be a grossed-up yield of 9.75%.

The homewares business has been experiencing a lot of growth as consumers open their wallets over this strange period of the last 12 months. Most people have been spending more time in their houses after the onset of COVID-19. People have been investing in their homes.

Looking at the FY21 half-year result, group sales were up 34.8% to $243 million – driven by online sales growth of 95.2%. Statutory profit was up 233.4% with the business focused on managing its gross profit margin rate (which increased 690 basis points to 67.8%).

Adairs’ underlying net operating cashflow was strong enough (up 91%) for the business to end the period with a net cash position of $22.1 million. It had $46.3 million of net debt a year prior to that.

Management expect that the COVID-19 environment will cause people to continue to spend strongly in home improvement and home decoration.

Morgans currently rates Adairs as a buy.

Nick Scali Limited (ASX: NCK)

Nick Scali is another ASX retail share that is expected to pay shareholders with a large dividend yield.

Looking at the trailing dividends of Nick Scali, it has a grossed-up dividend yield of 8.5%.

Citi expects the furniture business to pay a FY21 dividend of $0.80 per share. That would amount to a grossed-up dividend yield of 10.8%. However, it should be noted that Citi then expects the profit and dividend to decline in FY22. The next financial year’s payout is expected to be 48.6 cents per share, equating to a grossed-up dividend yield of 6.5%.

Nick Scali continues to see high demand for its med-premium lounges and furniture.

Sales remained strong during the quarter ending 31 March 2021 with written sales growth of 50%. The order bank at the end of April was still at an elevated level, which provides a foundation for revenue growth in FY22.

Nick Scali is going to continue to grow profit in a number of different ways. Expanding the store network is one of the goals, along with growth of its digital offering and launching adjacent product categories. Management are also looking at acquisition opportunities, but only where Nick Scali can add considerable value and only where financials and strategic merits are compelling.

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Despite a 1.9% selloff on Wednesday, the S&P/ASX 200 Index (ASX: XJO) recorded a small gain last week. The benchmark index rose 16.1 points or 0.2% over the five days to end at 7,030.3 points.

While a number of shares climbed higher with the market, some recorded particularly strong gains. Here’s why these were the best performers on the ASX 200 last week:

Appen Ltd (ASX: APX) 

The Appen share price was the best performer on the ASX 200 last week with a 19.4% gain. Investors were buying the technology company’s shares after it announced a new organisational structure. The new structure is aligned to its product-led and customer-centric strategy. Management notes that the changes reflect Appen’s evolution from being the leading provider of artificial intelligence (AI) data annotation services to the provider of a broad range of AI data annotation products and solutions that unlock growth in new markets. In addition, management reaffirmed its EBITDA guidance of US$83 million to US$90 million in FY 2021. This represents constant currency growth of 18% to 28% year on year.

Xero Limited (ASX: XRO)

The Xero share price was on form and recorded an impressive 13.1% gain over the five days. This appears to have been driven by bargain hunters snapping up shares after a recent pullback. In addition to this, improving sentiment in the tech sector also gave the cloud accounting platform provider’s shares a boost. For the same reason, the Altium Limited (ASX: ALU) share price jumped 11.5% last week.

Corporate Travel Management Ltd (ASX: CTD)

The Corporate Travel Management share price wasn’t far behind with a gain of 11.9%. Last week analysts at Morgan Stanley retained their overweight rating and $21.50 price target on this corporate travel specialist’s shares. The broker doesn’t believe the company will be meaningfully impacted by Qantas Airways Limited (ASX: QAN) reducing travel agent commissions on international flights from 5% to 1%.

Gold Road Resources Ltd (ASX: GOR)

The Gold Road Resources share price was a positive performer and stormed 9.8% higher over the period. This appears to have been driven by a rise in the gold price last week. The spot gold price touched on a four-month high thanks to easing bond yields. This led to the S&P/ASX All Ords Gold index rising by a solid 4.1% last week.

More reading

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• Why the Afterpay (ASX:APT) share price is up 10% this week

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The S&P/ASX 200 Index (ASX: XJO) overcame a huge selloff on Wednesday to record a small gain last week. The benchmark index rose 16.1 points or 0.2% over the five days to end the period at 7,030.3 points.

Unfortunately, not all shares were able to climb higher with the market. Here’s why these were the worst performers on the ASX 200 last week:

EML Payments Ltd (ASX: EML)

The EML Payments share price was the worst performer on the ASX 200 by some distance with a 34.6% decline. Investors were selling the payments company’s shares after the Central Bank of Ireland raised concerns over EML Payments’ PFS Card Services Ireland business. The central bank’s concerns relate to Anti-Money Laundering/Counter Terrorism Financing compliance. Management notes that 27% of its total revenue goes through this business. The worst-case scenario could see the business lose its financial service authorisation in the European market.

Kogan.com Ltd (ASX: KGN)

The Kogan share price was out of form and sank 14% lower over the five days. All of this decline occurred on the final day of the week when the ecommerce company released a trading update. That update revealed that inventory issues, promotional activities, and cost inflation are weighing on its performance. As result, it expects to report adjusted EBITDA of $58 million to $63 million in FY 2021. This was well short of the market’s expectations of ~$70 million. Kogan’s guidance represents growth of just 16.7% to 27% on FY 2020’s adjusted EBITDA of $49.7 million. This compares to its first half EBITDA growth rate of 184.4%.

Monadelphous Group Limited (ASX: MND)

The Monadelphous share price wasn’t far behind with a decline of 10%. This was despite there being no news out of the mining and mining services company last week. One person that sees this as a buying opportunity is its director, Dietmar Voss. A change of director’s interest notice reveals that he picked up almost $300,000 worth of shares via on-market trades on 18 and 19 May.

Iluka Resources Limited (ASX: ILU)

The Iluka share price was a poor performer and tumbled 9.8% over the five days. The catalyst for this was the mineral sands company releasing an update on its Sierre Rutile operation. According to the release, the operation has been struggling recently. As a result, Iluka is planning to pause production later this year for six months. During the break, management will evaluate whether it can continue its operations in its current mining area. It also withdrew its production guidance of 145,000 tonnes of rutile for 2021.

More reading

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• Why the Kogan (ASX:KGN) share price crashed 14% to a 52-week low
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• The ANZ (ASX:ANZ) share price leads the ASX 200 banks this week
• Kogan (ASX:KGN) share price sinks 12% on profit downgrade

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There are ASX shares in the Asia Pacific region that are delivering fast revenue growth, but the share prices have fallen recently.

Businesses that are growing revenue quickly gives it a chance of also growing profit at a faster rate over the long-term.

Betashares Asia Technology Tigers ETF (ASX: ASIA)

This ASX share aims to give investors exposure to the leading Asian technology giants outside of Japan. But the share price has fallen 21% since the middle of February 2021.

The exchange-traded fund (ETF) owns 50 positions, though you may have heard of some of the biggest ones: Tencent, Alibaba, Samsung Electronics, Taiwan Semiconductor Manufacturing, Meituan, Pinduoduo, JD.com, Sea, Netease and Infosys.

BetaShares says that due to its younger and tech-savvy population, Asia is surpassing the West in terms of technological adoption and the Asian technology sector is anticipated to remain a growth sector.

It’s invested in a number of quality businesses. For example, Alibaba is China’s largest retailer which has operations in e-commerce, retail, internet, AI and technology. Alibaba’s online sales and profit surpassed all US retailers combined in 2015. Samsung is one of the world’s biggest smartphone manufacturers. Taiwan Semiconductor is the world’s largest independent semi-conductor foundry – most of the world’s semiconductor companies are customers including Nvidia and Qualcomm.

The index that the Betashares Asia Technology Tigers ETF tracks has delivered an average return per annum of 24.1% over the last three years.

Temple & Webster Group Ltd (ASX: TPW)

Temple & Webster is one of the fastest-growing retail ASX shares.

The business runs a model where products are shopped directly from customers to suppliers. This means that delivery is faster and Temple & Webster doesn’t have to hold as much inventory. It also means that the business has a larger product range. Temple & Webster also has a growing private label range that offers good margins.

Since 10 May 2021, the Temple & Webster share price has fallen by 15%.

Management believe that there is a large opportunity in the online retail space. That’s why it’s planning to invest in various parts of the business including brand awareness, technology, data, delivery, 3D and AI capabilities to make the customer shopping journey easier, new categories, new products and exclusive ranges.

After this investment phase, the ASX share is expecting higher levels of profitability due to greater scale benefits including better supplier terms, more repeat customers (reducing marketing), a slowing investment in fixed costs and a higher amount of exclusive products which will come with higher gross margins.

Longer-term profit margins are expected to be higher than offline competition.

Temple & Webster CEO Mark Coulter had these positive words about the future:

You only need to look at the US to see how the e-commerce market is playing out, and why we remain bullish about the shift from offline to online. We are at the start of this once in a generation shift, and now is the time to put our foot down to secure market leadership and ensure we are the brand for the next generation of furniture shopper.

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Australian retail turnover increased 1.1% from March 2021 to April 2021, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) Retail Trade figures. April retail sales increased 25.1% when compared to a year ago, reflecting the impact of COVID-19 restrictions in April 2020.

The rise was led by New South Wales and Victoria, which each saw rises of 2%. Turnover in those states rose across all sectors except for department stores. ABS highlighted food retailing as a strong performer, which increased 1.5% following declines in both February and March 2021. Notable gains were made by cafes, restaurants and takeaway food services, which increased by 2.5%

The uptick in retail sales coincides with the surge in ASX retail shares during April. Unfortunately, most ASX retail shares have struggled to hold onto those gains in May.

ASX retail shares surge in April but struggle in May

Many ASX retail shares staged major rallies into record territory in April.

Apparel and footwear retailer, Accent Group Ltd (ASX: AX1) had been grinding back and forth around the $2.20 per share level for most of 2021. Its shares staged a major rally in April to an all-time record high of $3.08 on 29 April. But after a rapid 30% move up, its shares have pulled back by around 15% and are currently trading at $2.63 at the time of writing.

Specialty retailer, Premier Investments Limited (ASX: PMV) also surged between March and mid-April, with its shares running a similar 30% from lows of $21.00 to record highs of $27.33. The Premier share price has since pulled back and, at Friday’s close, was trading at $25.21.

Other honourable mentions include Harvey Norman Holdings Limited (ASX: HVN), City Chic Collective Ltd (ASX: CCX) and Dusk Group Ltd (ASX: DSK) which also staged major rallies in April before pulling back in May.

At the larger end of town, the Wesfarmers Ltd (ASX: WES) share price also followed a similar narrative. The company’s shares rallied throughout late March and into April from $49 to $56 before a pullback to $54.21 as at today’s close.

The ABS highlighted that food retailing was a standout performer in April, which could be a factor behind the recent strength of the Collins Foods Ltd (ASX: CKF) share price. Collins Foods is a KFC and Taco Bell franchise holder in Australia and Europe, with more than 240 franchised KFC restaurants in Australia. Unlike its ASX retail peers that have struggled to hold onto gains, the Collins share price has not only rallied 22% since mid-March, but continues to remain near its all-time record high of $11.59.

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Shares in BPH Group Ltd (ASX: BHP)  fell today after a senior executive at the company warned that Australia’s trade tensions with China are a danger to the economy. The BHP share price closed 1.1% lower on Friday, with shares in the resources company swapping hands for $47.75.

According to reporting by The Australian, president of BHP Minerals Australia Edgar Basto believes Australian producers could face a 50% decline in the sale price of coking coal if they are unable to export to China. Coking coal – also known as metallurgical coal – is used to make steel.

BHP produced around 70 million tonnes of coking coal in 2020.  

The coal was unofficially banned by the Chinese Government in October last year. ABC News reported late last year that, in 2019, 24% of Australia’s coking coal was exported to China.

Let’s take a closer look at Basto’s sombre warning.

Trade tensions have BHP on edge

Yesterday, Basto spoke at the Competitive Advantage Forum, hosted by BHP and The Australian.

He told the forum that losing China as a coal trading partner could have a devastating effect on producers’ bottom lines.

Basto was quoted by The Australian today as saying:

BHP is also a major producer of Australian iron ore. China’s importing of the mineral is yet to be affected by the political tensions. Although, China’s National Development and Reform Commission has said it plans to up its domestic iron ore production.

On the risk of Australia losing China as an iron ore trading partner, Basto was quoted by The Australian as saying:

The outlook looks good long term but unfortunately the here and now is a slightly different story…

Overall I think it’s a risk to the Australian economy and it’s an important risk and I think we should be candid in the way we evaluate the risk.

BHP share price snapshot

Despite a poor end to this week, BHP shares are still having a good run on the ASX recently.

Currently, the BHP share price is up 12.54% year to date. It has also gained 38.37% since this time last year.

The company is one of the ASX’s largest, with a market capitalisation of around $142 billion. It has approximately 5 billion shares outstanding.

More reading

• Here’s why the BPH Energy (ASX:BPH) share price is up 22% today

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The Betmakers Technology Group Ltd (ASX: BET) share price ended the day firmly in the green. This comes after the betting technology company announced a favourable outcome on the Fixed Odds Bill.

At the end of market trade, BetMakers shares finished at $1.50, up 2.74%.

More details on the Fixed Odds Bill

According to its release, BetMakers advised that the New Jersey General Assembly has unanimously passed Bill A4909. This relates to authorising “fixed odds wagering on horse races through fixed odds wagering system” within the state.

The vote resulted in a unanimous 75-0 count in favour of the Fixed Odds Bill early this morning (AEST).

Investors appeared pleased with the resolution, sending BetMakers shares higher throughout the day.

BetMakers noted that the next step in the legislative process is for identical Bill S3090 to be voted on by the full floor of the Senate. It was passed unanimously by the New Jersey Senate Budget and Appropriations Committee in November last year.

If the Bill is passed by the Senate, a final approval will be sent to the New Jersey Governor to sign it into law.

The company highlighted its exclusive 10-year agreement with New Jersey Thoroughbred Horsemen Association and Darby Development LLC.

The deal, if given the green light, would see BetMakers deliver and manage fixed odds horse racing into New Jersey.

What did the BetMakers CEO say?

BetMakers CEO, Todd Buckingham touched on the company’s progress, saying:

The company is working closely with various industry stakeholders including racetracks, wagering operators and regulators, to ensure we implement a sustainable growth model for horse racing in the North American market.

We are pleased with the progress and the consideration that has been given to the Bill (to authorise fixed odds wagering on horse races through fixed odds wagering system) since it was introduced to the New Jersey legislature in November last year and look forward to it progressing through the final stages of approval.

BetMakers share price snapshot

The BetMakers share price has been on fire over the past 12 months, jumping close to 400%.

In June, the company’s shares fell to a 52-week low of 30 cents, and have not looked back since. It’s worth noting that the BetMakers share price is within a whisker of breaking its all-time high of $1.535.

Based on today’s price, the company commands a market capitalisation of around $1.2 billion.

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The S&P/ASX 200 Index (ASX: XJO) went up by 0.15% to 7,030 points today.

Here are some of the highlights from the ASX:

Kogan.com Ltd (ASX: KGN)

The Kogan share price was the worst performer in the ASX 200 today, falling by over 13%.

The e-commerce ASX share said that underlying operating performance is expected to be challenged in the near-term, leading to adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) to be lower than the current range of analyst forecasts.

Kogan’s projection for FY21 adjusted EBITDA is in the range of $58 million to $63 million.

Having doubled in size in the first half of FY21, it decided to significantly expand its inventory holding to provide the products and delivery experience that customers expect. The company also increased its logistics footprint to 31 facilities. This rapid expansion has resulted in a number of near-term supply chain inefficiencies and inventory planning challenges, all of which are being addressed.

The higher inventory levels has meant higher warehousing costs. It’s spending more on marketing and increased discounting to sell the excess inventory.

There was one positive that Kogan revealed. The demurrage issue that the company was experiencing has been resolved. However, this has led to significant costs over the last five months. But it doesn’t expect any material demurrage issues to arise in the future.

Kogan said that the longer term fundamentals for the business remain very attractive given the company’s position in the Australian and New Zealand online retail markets, and with online retail sales currently only accounting for a small percentage of total retail sales in Australia and New Zealand.

EML Payments Ltd (ASX: EML)

The EML share price rebounded today. It went up more than 15% today, adding to the recovery over the last couple of days.

However, it is still down 35% from the share price level before it announced the regulatory issues that it is facing from the Central Bank of Ireland (CBI).

The regulator has concerns relating to EML’s subsidiary in Ireland that is responsible for around 27% of the company’s global consolidated revenue that operate under Irish authorisation.

Those concerns relate to anti-money laundering and counter terrorism financing, risk and control frameworks and governance.

EML said it welcomes the opportunity to engage more closely with the CBI in relation to the matters raised and the business model more generally. EML is committed to co-operating with the CBI and is taking steps to address concerns raised.

Airtasker Ltd (ASX: ART)

Airtasker announced today that it was acquiring US local services marketplace Zaarly for $3.4 million and launching a $20.7 million capital raising to accelerate its international expansion.

The Zaarly acquisition provides Airtasker with more than 597,000 registered users (customers) and more than 900 verified service providers to jump start its US expansion.

Airtasker said that Zaarly’s highly experienced team of marketplace product, engineering and operations executives will be led by CEO Bo Fishback and will joint Airtasker to lead the US market expansion.

The capital raising of 20.7 million shares will be done at an issue price of $1 per share for institutional, professional and sophisticated investors. Some of the money will be used to expand into key city markets in the US and UK.

More reading

• Why the Kogan (ASX:KGN) share price crashed 14% to a 52-week low
• Why Appen, Kogan, Nufarm, & Red 5 shares are sinking
• The ANZ (ASX:ANZ) share price leads the ASX 200 banks this week
• Kogan (ASX:KGN) share price sinks 12% on profit downgrade
• Why a2 Milk, EML Payments, Webjet, & Xero shares are pushing higher

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