2 quality ASX dividend shares rated as buys this month

These dividend shares have been named as buys this month…
The post 2 quality ASX dividend shares rated as buys this month appeared first on The Motley Fool Australia. –

Are you looking for some quality ASX dividend shares to add to your income portfolio?

Then you might want to look at the ones listed below. Here’s what you need to know about these dividend shares:

Accent Group Ltd (ASX: AX1)

The first ASX dividend share to look at is Accent Group. It is a retail conglomerate with a focus on the leisure footwear market.

Accent has been growing at a solid rate over the last few years thanks to the popularity of its store brands, its network expansion, and strong demand. This continued in FY 2021, with Accent recently delivering a 19.9% increase in sales to $1.14 billion and a 38.6% jump in net profit after tax to $76.9 million.

While the team at Bell Potter are expecting a softer result next year, they remain very positive on the company.

Bell Potter currently has a buy rating and $2.90 price target on its shares. The broker is also forecasting fully franked dividends per share of 9.3 cents in FY 2022 and 13.3 cents in FY 2023.

Based on the current Accent share price of $2.20, this will mean fully franked yields of 4.2% and 6%, respectively.

Transurban Group (ASX: TCL)

This toll road operator could be another ASX dividend share to consider.

Although its performance is being impacted greatly by lockdowns, it looks well-positioned to bounce back strongly once life returns to normal. And with the vaccine rollout going well, this may be sooner than later thankfully.

Analysts at Ord Minnett are positive on the company. This month the broker retained its buy rating but trimmed its price target slightly to $15.50. Ord Minnett is also forecasting dividends of 36.5 cents per share in FY 2021 and then 48.4 cents per share in FY 2022.

Based on the current Transurban share price of $14.07 this will mean yields of 2.6% and 3.5%, respectively.

The post 2 quality ASX dividend shares rated as buys this month appeared first on The Motley Fool Australia.

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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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