Insights

2 ASX dividend shares for income investors

Coles Group Ltd (ASX:COL) and this ASX dividend share could be top options for income investors right now…
The post 2 ASX dividend shares for income investors appeared first on The Motley Fool Australia. –

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Are you looking to boost your portfolio with some income options?

Then you might want to take a look at the ASX dividend shares listed below. Here’s what you need to know about them:

BWP Trust (ASX: BWP)

The first ASX dividend share to look at is property company BWP Trust. It is the owner of 68 Bunnings Warehouse sites across Australia.

Thanks to the quality of the Bunnings business and the retailer’s strong performance during the pandemic, BWP has been able to collect rent largely as normal during the crisis. This led to the company reporting profit growth in FY 2020 and allowed the BWP board to increase its distribution to 18.29 cents per unit.

A similar distribution is expected in FY 2021, which based on the current BWP share price, will represent a 4.2% yield for investors.

Coles Group Ltd (ASX: COL)

Another dividend share that investors might want to look closer at is Coles. This supermarket operator has been growing strongly in recent years thanks to its long track record of same store sales growth, store expansion, and its defensive qualities.

The latter proved particularly beneficial during the pandemic, with Coles one of only and a handful of companies reporting strong sales growth despite the economic downturn.

The good news is that this positive form has been maintained in FY 2021 even as COVID headwinds ease, putting Coles in a position to deliver another strong full year result.

According to a note out of Citi, its analysts are expecting Coles to deliver a robust result in FY 2021. In light of this, the broker has a buy rating and $21.20 price target on its shares. The broker is also forecasting a 63.5 cents per share fully franked dividend this year, which represents a fully franked 3.4% dividend yield.

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Returns As of 6th October 2020

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post 2 ASX dividend shares for income investors appeared first on The Motley Fool Australia.

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