2 buy-rated ASX dividend shares for income investors today

Check out these buy-rated dividend shares…
The post 2 buy-rated ASX dividend shares for income investors today appeared first on The Motley Fool Australia. –

With low interest rates still at ultra low levels, it remains a difficult period for income investors.

The good news is there are plenty of ASX dividend shares that can help you overcome low rates. Two to look at are listed below:

Mineral Resources Limited (ASX: MIN)

If you don’t mind investing in the resources sector, then Mineral Resources could be a dividend share to look at.

Mineral Resources gives investors exposure to iron ore and lithium through its operations in the Pilbara and Goldfields regions of Western Australia.

The team at Citi are very positive on the company and appear to believe the recent pullback in its share price is a buying opportunity. Earlier this month the broker upgraded its shares to a buy rating with a $65.00 price target.

In addition, the broker is forecasting a $3.37 per share fully franked dividend in FY 2022. Based on the latest Mineral Resources share price of $47.64, this will mean a very attractive 7% yield.

Super Retail Group Ltd (ASX: SUL)

A second ASX dividend share to consider is Super Retail. It is the retail conglomerate behind four leading store brands – BCF, Macpac, Rebel, and Super Cheap Auto.

These businesses were all on form in FY 2021, underpinning strong sales growth and even stronger profit growth. For the 12 months ended 30 June, Super Retail reported a 22% increase in sales to $3.45 billion and a 107% jump in normalised net profit after tax to $306.8 million.

And while the company is unlikely to top this in FY 2022 as tailwinds ease, that doesn’t mean Super Retail won’t be in a position to reward its shareholders with generous dividends.

According to analysts at Credit Suisse, they expect a fully franked dividend of 53 cents per share in FY 2022. Based on the current Super Retail share price of $12.20, this will mean a 4.3% dividend yield.

Credit Suisse has an outperform rating and $14.41 price target on the company’s shares.

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

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More reading

3 ASX shares that everyone’s underestimating right now

5 things to watch on the ASX 200 on Monday

September has not been a great month for the Mineral Resources (ASX:MIN) share price
2 ASX shares to potentially buy in this volatility

Mineral Resources (ASX:MIN) share price falls amid gas discovery update

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. owns shares of and has recommended Super Retail Group Limited. 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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