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2 quality ASX dividend shares to buy next week

Coles Group Ltd (ASX:COL) and this ASX dividend share could be top options for income investors next week…
The post 2 quality ASX dividend shares to buy next week appeared first on The Motley Fool Australia. –

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If you’re wanting to add a few dividend shares to your portfolio, then you may want to check out the ones listed below.

Here’s why these ASX dividend shares come highly rated right now:

Australia and New Zealand Banking GrpLtd (ASX: ANZ)

The worst of the COVID-19 pandemic appears to be behind us now and things are looking a lot more positive for the banking sector. Especially following the relaxing of responsible lending rules, a sharp reduction in COVID loan deferrals, and an improving housing market.

Another recent development which is making the sector attractive to investors is APRA’s decision to remove its dividend restrictions on the banks. This follows some significant stress testing by the regulator.

Morgans is positive on ANZ and recently reiterated its add rating and lifted its price target on the bank’s shares to $26.00. The broker is also forecasting a $1.27 per share dividend in FY 2021 and a $1.50 per share dividend in FY 2022. Based on the current ANZ share price, this represents 5.3% and 6.3% dividend yields, respectively.

Coles Group Ltd (ASX: COL)

Another dividend share to consider buying next week is Coles. This leading supermarket operator has been growing at a solid rate in recent years thanks to a combination of same store sales growth, store expansion, and its defensive business.

Pleasingly, this strong form has continued in FY 2021, with Coles delivering stellar sales growth during the first quarter. This, and its strong start to the second quarter, appears to have put Coles in a position to deliver a strong full year result next year.

Analysts at Citi appear confident on its prospects this year. The broker has a buy rating and $21.20 price target on the company’s shares. It is forecasting a 63.5 cents per share fully franked dividend this year. This represents a fully franked forward 3.4% dividend yield.

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Returns As of 6th October 2020

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post 2 quality ASX dividend shares to buy next week appeared first on The Motley Fool Australia.

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