These dividend shares have been named as buys…
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If you’re looking to strengthen your portfolio with some quality dividend shares, then you might want to take a look at the ones listed below.
Here’s why these ASX dividend shares are highly rated:
Mineral Resources Limited (ASX: MIN)
The first ASX dividend share to look at is Mineral Resources. It is a mining and mining services company with exposure to two of the most in demand commodities – iron ore and lithium.
It is thanks to these high quality operations that the company has been tipped to reward shareholders handsomely with dividends over the next couple of years.
One broker that is very positive on Mineral Resources is Macquarie. Its analysts recently retained their outperform rating and lifted their price target on the company’s shares to $74.00.
The broker is also forecasting fully franked dividends of $2.45 per share in FY 2022 and $2.04 per share in FY 2023. Based on the latest Mineral Resources share price of $56.00, this will mean yields of 4.4% and 3.6%, respectively.
National Australia Bank Ltd (ASX: NAB)
Another ASX dividend share to look at is this banking giant. It could be a top option for income investors that don’t already have exposure to the sector.
Goldman Sachs certainly believes it is. NAB continues to be its preferred sector exposure due to the bank’s cost management initiatives, expert margin management, its position as the largest business bank, and its strong capital position.
Goldman Sachs currently has a buy rating and $30.62 price target on the company’s shares. It is also forecasting fully franked dividends of ~125 cents per share in FY 2021 and then ~139 cents per share in FY 2022.
Based on the current NAB share price of $27.63, this will mean yields of 4.5% and 5%, respectively, over the next couple of years.
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Returns As of 16th August 2021
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The NAB (ASX:NAB) share price is up 7% in just two weeks
If you invested $1,000 in Mineral Resources (ASX:MIN) shares a decade ago, how much would they be worth 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 has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.