Insights

2 growing ASX dividend shares for an income portfolio

These ASX shares are growing their dividends each year…
The post 2 growing ASX dividend shares for an income portfolio appeared first on The Motley Fool Australia. –

Are you an income investor looking for growing dividends? If you are, then you might want to look at the ASX dividend shares listed below.

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

Integral Diagnostics Ltd (ASX: IDX)

Integral Diagnostics could be a dividend share to consider. It is a medical imaging service provider that operates from a total of 72 radiology clinics. This includes 26 comprehensive sites. 

The company employs some of Australasia’s leading radiologists and diagnostic imaging specialists in a unique medical leadership model. This model ensures quality patient care, service and access.

Pleasingly, Integral Diagnostics has been a solid performer in FY 2021 and has been experiencing strong demand for its services. This led to the company reporting first half revenue growth of 29.5% to $170.7 million and a massive 61.1% jump in net profit after tax to $23.2 million.

Analysts at Goldman Sachs are confident this growth will continue and expect it to underpin dividend increases in the coming years. It is forecasting dividends per share of 11.4 cents in FY 2021, 13.9 cents in FY 2022, and 15.4 cents in FY 2023.

Based on the latest Integral Diagnostics share price of $5.07, this represents fully franked yields of 2.2%, 2.7%, and 3%, respectively.

Rural Funds Group (ASX: RFF)

Another ASX dividend share that is expected to grow its dividend in the coming years is Rural Funds.

It is the owner of a $1.4 billion portfolio of diversified agricultural assets, including almond and macadamia orchards, premium vineyards, water entitlements, cattle and cropping assets.

With Rural Funds’ properties leased to high quality tenants on long term agreements with built in rental increases, management appears confident it can grow its distribution by 4% per annum.

This looks set to be the case in FY 2021 and FY 2022. Management has provided guidance for 11.28 cents per share this year and then 11.73 cents per share next year. This implies yields of 4.5% and 4.7%,respectively.

These Dividend Stocks Could Be Your Next Cash Kings (FREE REPORT)

Motley Fool Australia’s Dividend experts recently released a brand-new FREE report revealing 3 dividend stocks with JUICY franked dividends that could keep paying you meaty dividends for years to come.

Our team of investors think these 3 dividend stocks should be a ‘must consider’ for any savvy dividend investor. But more importantly, could potentially make Australian investors a heap of passive income.

Don’t miss out! Simply click the link below to grab your free copy and discover these 3 high conviction stocks now.

Returns As of 15th February 2021

More reading

2 ASX dividend shares that could be buys in June 2021

2 ASX dividend shares with attractive yields

2 quality ASX dividend shares for income investors

2 top ASX dividend shares with 4%+ yields

2 ASX 200 shares that could be great for dividends

The post 2 growing ASX dividend shares for an income portfolio appeared first on The Motley Fool Australia.

Important Notice
Trade The US Market With ZERO Brokerage* + FREE Access To Trading Ideas & Value Analysis Tools. Click Here!