Analysts name 2 top ASX dividend shares to buy now

These dividend shares could be buys…
The post Analysts name 2 top ASX dividend shares to buy now appeared first on The Motley Fool Australia. –

Are you looking for dividend shares to buy? If you are, then you might want to look at the shares listed below.

Here’s why these ASX dividend shares could be worth considering right now:

Accent Group Ltd (ASX: AX1)

The first ASX dividend share to look at is this footwear focused retailer.

Accent is the name behind a growing stable of retail chains. This includes The Athlete’s Foot, Platypus, Stylerunner, HypeDC, Glue, Sneaker Lab, and Merrell to name just a few.

Thanks to the popularity of these brands with consumers and their wide and growing footprint, Accent appears well-placed to continue its growth over the long term. This could bode well for dividend payments in the coming years.

The team at Bell Potter expects fully franked dividends per share of 9.1 cents in FY 2022 and then 13.5 cents in FY 2023. Based on the latest Accent share price of $2.45, this represents yields of 3.7% and 5.5%, respectively.

Bell Potter has a buy rating and $3.05 price target on its shares.

Coles Group Ltd (ASX: COL)

Another ASX dividend share to look at is this supermarket, convenience, and liquor store operator.

It could be a top option for income investors due to its favourable dividend policy (paying upwards of 90% of profits as dividends) and positive outlook. In addition, as we have seen during the pandemic, Coles has defensive qualities that can be very valuable during volatile times.

One broker that is a big fan of Coles is Citi. Its analysts have a buy rating and $19.60 price target on its shares.

As for dividends, the broker is forecasting fully franked dividends of 65 cents per share in FY 2022, 72 cents per share in FY 2023, and then 77 cents per share in FY 2024. Based on the current Coles share price of $17.94, this will mean yields of 3.6%, 4%, and 4.3%, respectively.

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

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More reading

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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 owns and has recommended COLESGROUP DEF SET. 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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