Analysts name 2 ASX dividend shares to buy

These dividend shares could be in the buy zone…
The post Analysts name 2 ASX dividend shares to buy appeared first on The Motley Fool Australia. –

Are you looking for income options for your portfolio? If you are, then you might want to consider the ASX shares listed below.

Here’s why they could top options for income investors:

Accent Group Ltd (ASX: AX1)

Accent could be a dividend share to buy. It is a retail group that owns a collection of popular footwear-focused store brands including HYPEDC, Platypus, and The Athlete’s Foot.

These brands have carved out a very strong position in the leisure footwear market for Accent, which, together with its expanding store network, has underpinned strong earnings growth in recent years.

The team at Bell Potter appear confident this strong form will continue over the long term. Though, it acknowledges that lockdowns will weigh on its performance in FY 2022. Bell Potter currently has a buy rating and $2.90 price target on its shares.

It 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 latest Accent share price of $2.46, this represents yields of 3.8% and 5.4%, respectively.

Commonwealth Bank of Australia (ASX: CBA)

Another ASX dividend share that Bell Potter is a fan of is Australia’s largest bank. Its analysts currently have a buy rating and $118.00 price target on its shares.

Bell Potter likes CBA due to its strong position as the leader in home lending and retail deposits. It also notes that it has a very strong balance sheet with significant surplus capital. In addition, the broker sees opportunities to add value via SME banking, wealth management, and selective Asian expansion.

Its team are forecasting fully franked dividends per share of $4.06 in FY 2022 and $4.27 in FY 2023. Based on the current CBA share price of $105.10, this will mean yields of 3.9% and 4.2%, respectively.

The post Analysts name 2 ASX dividend shares to buy appeared first on The Motley Fool Australia.

Should you invest $1,000 in CBA right now?

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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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