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Analysts name 2 ASX dividend shares to buy

Analysts like these dividend shares…
The post Analysts name 2 ASX dividend shares to buy 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. It is a retail group with a collection of popular footwear-focused store brands. These include stores such as HYPEDC, Platypus, Sneaker Lab, Stylerunner, and The Athlete’s Foot. In addition to this, the company recently acquired Glue Store and launched a new brand called 4 Workers.

Accent has been growing at a solid rate for years and has been tipped to continue doing so in the future. This is thanks to the popularity of its brands and its store expansion plans.

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

Based on the latest Accent share price of $2.12, this represents fully franked yields of 4.4% and 6.3%, respectively.

National Australia Bank Ltd (ASX: NAB)

NAB could be another top option for income investors that don’t already have exposure to the banking sector.

This is due to the Australian economy’s strong recovery from the pandemic, the thriving housing market, cost reductions, and its improving outlook.

The team at Goldman Sachs are very positive on NAB’s outlook. So much so, the broker has a conviction buy rating and $30.62 price target on its shares.

Goldman likes NAB partly due to its cost management initiatives, which appear further progressed relative to most of its peers. Its analysts believe this could drive productivity benefits sooner and free up its investment spend to be directed more towards customer experience.

The broker is forecasting fully franked dividends per share of 140 cents in FY 2022 and 145 in FY 2023. Based on the current NAB share price of $28.85, this will mean yields of 4.9% and 5%, respectively.

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

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More reading

Dividends galore! 10 ASX shares trading ex-dividend on Wednesday

How have ASX bank shares performed during the August 2021 earnings season?

Why the NAB (ASX:NAB) share price has beaten the ASX200 in the last 3 months
The Macquarie (ASX:MQG) share price is outperforming the ASX big 4 in the past month
3 buy-rated ASX dividend shares with big yields

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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