2 ASX dividend shares to buy this week

Westpac Banking Corp (ASX:WBC) and this ASX dividend share could be good options for income investors this week…
The post 2 ASX dividend shares to buy this week appeared first on The Motley Fool Australia. –

dividend shares

If you’re looking to add some dividend shares to your portfolio, then the two listed below might be ones to consider.

Here’s what you need to know about them:

National Storage REIT (ASX: NSR)

National Storage is one of the region’s leading self-storage operators. It tailors self-storage solutions to residential and commercial customers across Australia and New Zealand.

At present, the company operates approximately 190 storage centres across the region. While this sounds like a large number, management believes there is still significant room to grow. In fact, it has completed eight acquisitions totalling $139 million since the end of FY 2020. In addition to this, management advised that its forward-looking acquisition pipeline remains strong and it is has a number of development projects.

According to a note out of Ord Minnett, its analysts have an accumulate rating and $2.05 price target on its shares. The broker is forecasting an 8 cents per share dividend in FY 2021. This represents a 3.9% dividend yield.

Westpac Banking Corp (ASX: WBC)

If you don’t have exposure to the big four banks, then Westpac could be worth considering. While the banking sector has been having a very tough time in recent years, there are signs that it is now over the worst of its issues. This is thanks partly to the improving housing market, the relaxing of responsible lending rules, and the quicker than expected economic recovery from the pandemic.

Analysts at Macquarie believe now could be the time to invest. Earlier this month they put an outperform rating and $21.50 price target on the bank’s shares. They are also forecasting a 70 cents per share dividend in FY 2021 and an 85 cents per share dividend in FY 2022. This represents fully franked 3.5% and 4.2% dividend yields, respectively, over the next two years.

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Returns As of 6th October 2020

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Motley Fool contributor James Mickleboro owns shares of Westpac Banking. 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 Bruce Jackson.

The post 2 ASX dividend shares to buy this week appeared first on The Motley Fool Australia.

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