Insights

2 top ASX dividend shares to buy this month

Rural Funds Group (ASX:RFF) and this ASX dividend share could be top options for investors this month. Here’s why…
The post 2 top ASX dividend shares to buy this month appeared first on The Motley Fool Australia. –

ASX dividend shares represented by cash in jeans back pocket

If you’re looking to add some quality ASX dividend shares to your portfolio, then you might want to consider the ones listed below.

Here’s what you need to know about these ASX dividend shares:

People Infrastructure Ltd (ASX: PPE)

The first ASX dividend share to consider is People Infrastructure.

People Infrastructure, better known to its customers as PeopleIN, is a technology enabled workforce management company delivering innovative solutions to the workforce challenges facing businesses.

It provides contracted staffing and human resources outsourcing services to a range of key industries. These services include recruiting, on-boarding, rostering, timesheet management, payroll, and workplace health and safety management.

It has been on form in FY 2021 despite the pandemic. For the six months ended 31 December, the company recorded a 3.1% increase in revenue to $201 million and a 51.5% increase in normalised net profit to $14.8 million.

One broker that is a fan of the company is Morgans. It currently has an add rating and $4.22 price target on its shares. The broker is also forecasting a fully franked dividend of 13 cents per share in FY 2021. Based on the latest People Infrastructure share price, this represents an attractive 3.5% dividend yield.

Rural Funds Group (ASX: RFF)

Another ASX dividend share to look at is Rural Funds. It is an agriculture-focused property company with a collection of high quality assets leased to experienced operators.

Positively, these properties are leased on long term agreements and include fixed rental increases. This means that the company is well-placed to deliver on its target of growing its distribution by 4% per annum long into the future.

This year Rural Funds is planning to pay a distribution of 11.28 cents per share. After which, in FY 2022 it intends to increase it by 4% to 11.73 cents per share. Based on the current Rural Funds share price, this represents yields of 4.8% and 5%, respectively.

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Returns As of 15th February 2021

More reading

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of People Infrastructure Ltd. The Motley Fool Australia owns shares of and has recommended RURALFUNDS STAPLED. The Motley Fool Australia has recommended People Infrastructure Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post 2 top ASX dividend shares to buy this month appeared first on The Motley Fool Australia.

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