Are you looking for some ASX dividend shares to add to your income portfolio?
Then you might want to take a look at the dividend shares listed below. Here's what you need to know about them:
BWP Trust (ASX: BWP)
BWP is the largest owner of Bunnings Warehouse sites across Australia with 68 properties leased to the home improvement giant.
Bunnings has proven to be a great tenant to have during the pandemic. With many consumers redirecting their spending to improving their homes, Bunnings has experienced very strong sales growth. This means BWP has been one of just a handful of retail landlords that has been able to collect rent largely as normal.
This and positive property revaluations led to the company's profit climbing 6% to $144 million during the first half of FY 2021.
In addition to this, its solid form has allowed management to reaffirm its distribution guidance of ~18.3 cents per share in FY 2021. Based on the current BWP share price, this represents a generous 4.8% dividend yield.
Westpac Banking Corp (ASX: WBC)
With trading conditions in the sector improving rapidly, this banking giant could be a good option for income investors.
Last month Westpac released its first quarter update and reported a $1.97 billion first quarter cash profit. This was more than double the quarterly average cash earnings it recorded during the second half of FY 2020. In addition to this, the bank reversed ~$500 million of COVID-19 related impairments due to the improving economic conditions.
This went down well with Morgans, which put an add rating and $27.50 price target on its shares. The broker is also forecasting a fully franked $1.32 per share dividend in FY 2021.
Based on the current Westpac share price, this represents a generous 5.3% dividend yield. This is significantly better than anything you'll receive from its term deposits or savings accounts.
