Brokers name 2 ASX dividend shares to buy

These dividend shares offer attractive fully franked yields
The post Brokers name 2 ASX dividend shares to buy appeared first on The Motley Fool Australia. –

If you’re looking to beat low interest rates in 2021, then you might want to look at the dividend shares listed below.

Both shares offer investors attractive yields that are superior to those offered with term deposits and savings accounts. Here’s what you need to know about them:

Accent Group Ltd (ASX: AX1)

The first ASX dividend share to look at is Accent Group. It is a retail conglomerate primarily focused on the footwear market. Among its stable of brands are HypeDc, Platypus, and The Athlete’s Foot.

Accent has been growing its earnings and dividends at a solid rate in recent years. This has been driven by the increasing popularity of its store brands, exclusive offering, and its ever-expanding footprint.

Its growth has continued in FY 2021, with Accent reporting a 57.3% increase in net profit after tax to $52.8 million during the first half. Pleasingly, it has built on this during the third quarter, with Accent reporting an acceleration in its sales growth.

Bell Potter is expecting Accent’s growth to continue. The broker is forecasting dividends of 11.7 cents per share in FY 2021 and then 12.3 cents per share in FY 2022. Based on the current Accent share price of $2.76, this will mean fully franked yields of 4.25% and 4.3%, respectively.

Bell Potter has a buy rating and $3.30 price target on its shares.

Telstra Corporation Ltd (ASX: TLS)

Another ASX dividend share for income investors to look at is Telstra. Analysts are becoming increasingly bullish on the telco giant due to its improving outlook.

This is due to a combination of cost cutting, restructuring, rational competition, and a positive growth outlook in the key mobile business. The latter is being driven by its 5G leadership.

Analysts at Ord Minnett have a buy rating and $4.10 price target on its shares. The broker continues to forecast 16 cents per share fully franked dividends for the foreseeable future.

Based on the current Telstra share price of $3.59, this will mean attractive yields of almost 4.5% over the coming years.

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

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More reading

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Here are 3 of the most heavily traded ASX 200 shares today

2 buy-rated ASX dividend shares with 4%+ yields

The Telstra (ASX:TLS) share price is gaining today
Why we avoid mining and biotech ASX shares: fund manager

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 shares of and has recommended Telstra Corporation Limited. 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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