2 buy-rated ASX dividend shares for February

Telstra Corporation Ltd (ASX:TLS) and this ASX dividend share could be in the buy zone for income investors. Here’s why…
The post 2 buy-rated ASX dividend shares for February appeared first on The Motley Fool Australia. –

dividend shares

Are you looking to add a few ASX dividend shares to your portfolio in February? Then you might want to check out the two listed below.

There ASX dividend shares have both been tipped to as buys recently. Here’s what you need to know:

People Infrastructure Ltd (ASX: PPE)

The first ASX dividend share to look at is People Infrastructure. It is a leading workforce management company that provides companies with innovative solutions to workforce challenges.

In FY 2020, People Infrastructure was a strong performer, overcoming the pandemic to report a 49.2% increase in normalised EBITDA to $26.4 million.

One broker that appears confident that FY 2021 will be another strong year is Morgans. It recently put an add rating and $4.05 price target on its shares and is forecasting a dividend of 11 cents per share this year.

Based on the latest People Infrastructure share price, this will mean a fully franked 3.2% dividend yield.

Telstra Corporation Ltd (ASX: TLS)

Another ASX dividend share to look at is Telstra. With the end of the NBN rollout in sight, the company’s T22 strategy progressing very well, and 5G internet expected to boost its mobile revenues, things are looking a lot brighter for the telco giant.

In addition to this, it has recently announced provisional plans to split into three separate businesses. Management expects this to allow the company to take advantage of potential monetisation opportunities and unlock value for shareholders.

Analysts at Goldman Sachs are fans of this plan and remain positive on its outlook. The broker has a buy rating and $3.80 price target on Telstra’s shares. It is also forecasting a 16 cents per share fully franked dividend in FY 2021 and beyond.

Based on the current Telstra share price, this would provide investors with a 5.15% fully franked dividend yield.

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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 and has recommended Telstra Limited. 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.

The post 2 buy-rated ASX dividend shares for February appeared first on The Motley Fool Australia.

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