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2 excellent ASX dividend shares that experts rate as buys

Here are two dividend shares rated as buys…
The post 2 excellent ASX dividend shares that experts rate as buys appeared first on The Motley Fool Australia. –

Are you looking for dividend shares to buy this month? If you are, then you might want to look at the shares listed below.

Here’s why these ASX dividend shares could be worth considering right now:

Accent Group Ltd (ASX: AX1)

The first ASX dividend shares to look at is Accent. It is a footwear focused retailer that owns a growing collection of store brands. These include HYPEDC, Pivot, Platypus, Sneaker Lab, and Stylerunner.

Accent’s shares have fallen materially this year due to tough trading conditions in the retail sector. While this is disappointing, the team at Bell Potter appear to see it as a buying opportunity.

This morning the broker reiterated its buy rating and $2.20 price target on the retailer’s shares. It notes that Accent has a ~30% market share of the $3 billion Australian footwear market and sees a major opportunity in the fast-growing $5 billion apparel market.

As for dividends, it is forecasting fully franked dividends of 5.8 cents per share in FY 2022 and then 10.7 cents per share in FY 2023. Based on the current Accent share price of $1.34, this will mean yields of 4.3% and 8%, respectively.

Westpac Banking Corp (ASX: WBC)

Another ASX dividend share that could be a buy is Westpac. It is Australia’s oldest bank and one of the big four. It is also responsible for the Bank of Melbourne, Bank SA, St Georges, and Rams brands.

It could be a top option due to its improving outlook as rates rise in Australia and the economy recovers from the pandemic.

Analysts at Citi are very positive on the bank and have a buy rating and $29.00 price target on its shares. They were particularly pleased with Westpac’s recent half-year results, which came in well ahead of expectations. The broker also highlights that management is holding firm with its cost reduction plans despite the bank’s rivals abandoning their own targets.

All in all, Citi believes this leaves Westpac well-placed to deliver “the strongest EPS growth in the sector.”

In respect to dividends, Citi is forecasting a fully franked $1.23 per share dividend in FY 2022 and then a $1.53 per share dividend in FY 2023. Based on the current Westpac share price of $24.00, this will mean yields of 5.1% and 6.4%, respectively.

The post 2 excellent ASX dividend shares that experts rate as buys appeared first on The Motley Fool Australia.

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*Returns as of January 12th 2022

More reading

Top brokers name 3 ASX shares to buy next week
What are brokers forecasting for the Westpac share price in June?
What’s dragging on ASX 200 bank shares like NAB on Thursday?
Why did the Westpac share price beat the ASX 200 in May?
Leading brokers name 3 ASX shares to buy today

Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group and Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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