2 growing ASX dividend shares for income investors

These dividends are growing at a decent rate…
The post 2 growing ASX dividend shares for income investors appeared first on The Motley Fool Australia. –

Are you looking to add some dividend shares to your portfolio? Then take a look at the ones listed below.

Here’s why they could be top options for income investors:

Accent Group Ltd (ASX: AX1)

Accent is a retail group with a collection of popular footwear-focused store brands. These include stores such as HYPEDC, Platypus, Sneaker Lab, Stylerunner, The Athlete’s Foot, and the recently acquired Glue Store. It has also recently launched a new brand called 4 Workers. This brand is targeting the workwear market.

Given the popularity of its brands, its store expansion plans, and favourable trading conditions, Accent has been tipped to continue growing its earnings and dividend in the coming years.

In respect to its dividend, Bell Potter is forecasting dividends of 11.7 cents per share in FY 2021 and 12.3 cents per share in FY 2022. Based on the latest Accent share price of $2.78, this represents fully franked yields of 4.2% and 4.4%, respectively.

Bell Potter currently has a buy rating and $3.30 price target on its shares.

Wesfarmers Ltd (ASX: WES)

Wesfarmers is the conglomerate behind several popular retail brands such as Bunnings and Kmart. It also has a diverse portfolio of industrial businesses.

Thanks to the key Bunnings business, Wesfarmers is on course to record a strong full year result in FY 2021. The hardware giant has been benefiting from the housing market boom and home improvement-related stimulus. This has underpinned stellar sales and profit growth this year.

Analysts at Macquarie appear to believe its growth can continue, leading to increasing dividends in the near term. The broker is forecasting fully franked dividends of $1.74 per share in FY 2021 and $1.76 per share in FY 2022.

Based on the latest Wesfarmers share price of $57.72, this represents attractive yields of 3% and 3.1%, respectively. Macquarie has an outperform rating and $58.12 price target on its shares.

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

These Dividend Stocks Could Be Your Next Cash Kings (FREE REPORT)

Motley Fool Australia’s Dividend experts recently released a brand-new FREE report revealing 3 dividend stocks with JUICY franked dividends that could keep paying you meaty dividends for years to come.

Our team of investors think these 3 dividend stocks should be a ‘must consider’ for any savvy dividend investor. But more importantly, could potentially make Australian investors a heap of passive income.

Don’t miss out! Simply click the link below to grab your free copy and discover these 3 high conviction stocks now.

Returns As of 15th February 2021

More reading

Wesfarmers (ASX:WES) share price hits new all-time high
4 ASX 200 shares making all-time record highs

3 ASX 200 dividend shares making year-to-date highs

The Vulcan Energy (ASX:VUL) share price is rising today
ASX 200 Weekly Wrap: ASX edges even higher, led by tech rebound

James Mickleboro does not own any shares 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 Wesfarmers Limited. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!