2 top ASX dividend shares for income investors next week

Transurban Group (ASX:TCL) and this ASX dividend share could be quality options for income investors next week. Here’s why…
The post 2 top ASX dividend shares for income investors next week appeared first on The Motley Fool Australia. –

If you’re looking to boost your income with some dividend shares, then you might want to consider the ones listed below.

Here’s why analysts have given them buy ratings:

Super Retail Group Ltd (ASX: SUL)

The first ASX dividend share to look at is Super Retail. It is the retail conglomerate behind popular brands BCF, Macpac, Rebel, and Super Cheap Auto.

Thanks to a redirection in consumer spending during the pandemic, Super Retail has been experiencing very strong sales growth this year. For example, a recent trading update revealed that Super Retail achieved like-for-like sales growth of 28% over the first 44 weeks of FY 2021. Positively, management also revealed that its gross margin had remained steady since the end of the half. At that point, it was very strong and underpinning even quicker profit growth.

Goldman Sachs believes the Super Retail share price is in the buy zone and is expecting a very generous dividend in FY 2021. It currently has a buy rating and $15.00 price target on its shares and is forecasting an 84 cents per share fully franked dividend. Based on the current Super Retail share price of $12.95, this represents a 6.5% yield.

Transurban Group (ASX: TCL)

Another ASX dividend share to consider is Transurban. It is one of the world’s leading toll road operators with key roads in Melbourne, Sydney and Brisbane, as well as in Greater Washington, United States and Montreal, Canada. Transurban also considers itself to be a technology company as well. It notes that it researches and develops innovative tolling and transport technology that makes travel easier for everyone.

While the pandemic has impacted traffic volumes, particularly on roads connecting to airports, there has been a notable improvement over recent months. This is likely to continue improving as vaccines rollout and people become more mobile again.

Ord Minnett is confident in the company’s recovery and expects its distribution to rebound strongly in FY 2022. The broker is forecasting dividends of 37 cents per share in FY 2021 and then 58 cents per share in FY 2022. This will mean yields of 2.5% and 3..9%, respectively, over the next two years.

Ord Minnett currently has a buy rating and $16.00 price target on the company’s shares.

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

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More reading

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

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Super Retail Group Limited. The Motley Fool Australia owns shares of Transurban 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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