2 blue chip ASX dividend shares to buy

Wesfarmers Ltd (ASX:WES) and this ASX dividend share could be top options for income investors right now. Here’s why…
The post 2 blue chip ASX dividend shares to buy appeared first on The Motley Fool Australia. –

asx blue chip shares represented by pile of blue casino chips in front of bar graph

If you’re wanting to add some ASX dividend shares to your portfolio, then you might want to look at the ones listed below.

Here’s what income investors need to know about them:

Aventus Group (ASX: AVN)

The first dividend share to look at is Aventus. It is Australia’s largest fully-integrated owner, manager, and developer of large format retail centres.

Aventus has been a positive performer during the pandemic. This has been thanks largely to the quality of its tenancies and its exposure to everyday needs and national retailers. This has allowed the company to collect rent largely as normal, which led to Aventus reporting both revenue and profit growth during the first half of FY 2021.

One broker that is positive on the company is Goldman Sachs. It currently has a buy rating and $3.04 price target on its shares.

Goldman is also forecasting a ~16.6 cents per share distribution this year. Based on the current Aventus share price, this represents a 5.6% yield.

Wesfarmers Ltd (ASX: WES)

Another dividend share to look at is Wesfarmers. It is the conglomerate behind several of Australia’s leading retailers and a collection of industrial businesses. Among the former are Kmart, Officeworks, Target, Catch, and Bunnings.

It is the latter business which has been the star performer over the last 12 months. Strong demand in the home improvement market led to Bunnings reporting stellar sales and profit growth during the first half. This ultimately underpinned a 16.6% increase in group revenue to $17,774 million and a 25.5% increase in net profit after tax to $1,414 million.

Goldman Sachs is a fan of Wesfarmers as well. It currently has a buy rating and $59.70 price target on its shares. In respect to dividends, the broker is forecasting a fully franked FY 2021 dividend of $1.88 per share. Based on the latest Wesfarmers share price, this equates to a 3.5% yield.

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Returns As of 15th February 2021

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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 Wesfarmers Limited. The Motley Fool Australia has recommended AVENTUS RE UNIT. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post 2 blue chip ASX dividend shares to buy appeared first on The Motley Fool Australia.

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