Transurban Group (ASX:TCL) and this ASX dividend share could be good options for income investors when the market reopens…
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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:
People Infrastructure Ltd (ASX: PPE)
The first dividend share to look at is People Infrastructure. It is a leading workforce management company that provides companies with innovative solutions to workforce challenges.
It has been a positive performer over the last couple of years and continued this trend in FY 2021. In February, People Infrastructure released its half year result and revealed a 3.1% increase in revenue to $201 million and a 51.5% increase in normalised net profit to $14.8 million.
Morgans appears confident its positive form can continue. It recently retained its add rating and lifted its price target to $4.22. Morgans is also forecasting a fully franked dividend of 13 cents per share in FY 2021.
Based on the current People Infrastructure share price of $3.67, this represents an attractive 3.5% dividend yield.
Transurban Group (ASX: TCL)
Transurban is another ASX dividend share for income investors to consider buying.
The toll road operator has had a difficult 12 months because of the pandemic’s impact on mobility. However, with the worst of the pandemic seemingly behind us, traffic on its roads looks set to rebound to previous levels over the next 12 months.
This could lead to its distributions returning back to previous levels as well in FY 2022. So, with the Transurban share price still down 15% from its high, this could make in an opportune time to make a long term investment.
Macquarie certainly believes this is a case. Last month it put an outperform rating and $14.76 price target on its shares. The broker is forecasting dividends of 40.5 cents per share and 60.4 cents per share in FY 2021 and FY 2022, respectively.
Based on the latest Transurban share price of $13.26, this will mean forward yields of 3% and 4.55%, respectively.
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Returns As of 15th February 2021
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of People Infrastructure Ltd. The Motley Fool Australia owns shares of Transurban Group. The Motley Fool Australia has recommended People Infrastructure Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.