2 high yield ASX dividend shares named as buys

Here’s why these dividend shares could be in the buy zone…
The post 2 high yield ASX dividend shares named as buys appeared first on The Motley Fool Australia. –

If you’re looking for dividends shares with big yields, then you may want to look at the ones listed below.

Here’s why analysts rate these high yield dividend shares as buys:

Accent Group Ltd (ASX: AX1)

The first ASX dividend share to look at is this footwear focused retailer. It is responsible for a collection of popular brands including HYPE DC and The Athlete’s Foot. Accent could be a top option for income investors following a recent pullback in its share price caused by concerns over its performance in FY 2022 due to lockdowns and other COVID headwinds.

And while its underperformance is expected to impact its profits and therefore its dividends this year, analysts at Bell Potter expect a big rebound in FY 2023. The broker currently has estimates for dividends per share of 9.1 cents this year and then 13.5 cents next year. Based on the current Accent share price of $2.26, this will mean yields of 4% and 6%, respectively. Bell Potter also sees decent upside for its shares with its price target of $3.05.

BHP Group Ltd (ASX: BHP)

Another ASX dividend share to look at is BHP. It is one of the world’s largest mining companies with a collection of world class operations across a number of regions and commodities. The latter includes Petroleum, Potash, Copper, Iron ore, Coal and Nickel. And while the company is in the process of spinning out its petroleum assets via a merger with Woodside Petroleum Limited (ASX: WPL), shareholders will be given a slice of the new company.

The team at Macquarie is very positive on BHP. It has an outperform rating and $52.00 price target on the company’s shares. As for dividends, the broker is expecting fully franked dividends of ~$3.86 in FY 2022 and ~$2.86 in FY 2023. Based on the current BHP share price of $46.70, this will mean yields of 8.2% and 6.1%, respectively.

The post 2 high yield ASX dividend shares named as buys appeared first on The Motley Fool Australia.

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More reading

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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 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.

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