2 buy-rated ASX dividend shares for income investors

These dividend shares have been given buy ratings…
The post 2 buy-rated ASX dividend shares for income investors appeared first on The Motley Fool Australia. –

Are you looking for some attractive dividend yields to boost your income? Then look at the ones listed below.

Here’s why these dividend shares have been tipped as great options for income investors right now:

National Australia Bank Ltd (ASX: NAB)

If you don’t already have exposure to the banking sector, then NAB could be a dividend share to consider. Due to improving trading conditions, its cost management initiatives, its position as the largest business bank, and its strong capital position, things are looking very positive for NAB.

It is for this reason that NAB remains Goldman Sachs’ preferred sector exposure. Goldman currently has a conviction buy rating and $29.97 price target on the bank’s shares.

The broker believes NAB is in a position to grow its dividend at a solid rate over the coming years. It is forecasting fully franked dividends per share of 124 cents in FY 2021, 133 cents in FY 2022, and $1.38 in FY 2023.

Based on the current NAB share price of $26.31, this represents yields of 4.75%, 5%, and 5.25% respectively.

Super Retail Group Ltd (ASX: SUL)

Another ASX dividend share to consider is Super Retail. It is the retail group behind the BCF, Macpac, Rebel, and Super Cheap Auto retail brands.

Super Retail’s businesses have been performing strongly in FY 2021 thanks to a favourable redirection in consumer spending. This led to the company reporting a 23% increase in half year sales to $1.78 billion and a 139% increase in underlying net profit after tax to $177.1 million.

Credit Suisse is bullish on Super Retail. It believes the market is underestimating the company’s strong position in the retail market. The broker currently has an outperform rating and $14.45 price target on its shares. Credit Suisse is forecasting dividend of 71.7 cents per share in FY 2021 and then 49.2 cents per share in FY 2022.

Based on the latest Super Retail share price of $12.49, this will mean fully franked yields of 5% and 3.4%, respectively.

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

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Returns As of 15th February 2021

More reading

ASX 200 Weekly Wrap: ASX finishes FY21 on a high

Broker names 2 ASX dividend shares to buy

These high yield ASX dividend shares could be buys

Why the NAB (ASX:NAB) share price remained flat in June
Is your money safe in Commonwealth Bank (ASX:CBA) shares right now?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Super Retail Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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