Are you looking to boost your income with some dividend shares? Then you might want to consider the ones listed below.
Here's why analysts have given them buy ratings:
People Infrastructure Ltd (ASX: PPE)
People Infrastructure is a leading workforce management company that provides companies with innovative solutions to workforce challenges.
It has been growing strongly over the last couple of years. For example, in FY 2020, People Infrastructure reported a 49.2% increase in normalised EBITDA to $26.4 million.
It followed this up with a solid half year result in February. For the six months ended 31 December, the company recorded a 3.1% increase in revenue to $201 million and a 51.5% increase in normalised net profit to $14.8 million.
Since then, the company has entered into a binding agreement to acquire the SwingShift Nurses business.This business is forecast to generate $1 million in operating earnings in the first 12 months following completion.
Morgans is a fan of the company. It recently retained its add rating and lifted its price target to $4.22. The broker is also forecasting a fully franked dividend of 13 cents per share in FY 2021.
Based on the latest People Infrastructure share price of $3.67, this represents an attractive 3.5% dividend yield.
Sonic Healthcare Limited (ASX: SHL)
Another ASX dividend share to consider buying is Sonic Healthcare. It is a leading medical diagnostics company with operations across the world.
Sonic Healthcare has been an even stronger performer than People Infrastructure in FY 2021. Last month it released its half year results and reported a 33% increase in revenue to $4.4 billion and a 166% jump in first half net profit to $678 million.
And while COVID-19 testing was a key driver of this growth, the rest of its business also performed positively.
The good news is that COVID testing continues to be strong and is expected to remain that way for at least the rest of 2021. This bodes well for its performance in the second half and FY 2022.
Credit Suisse is bullish on the company and has an outperform rating and $40.00 price target on its shares. The broker is also expecting a 93 cents per share partially franked dividend in FY 2021 and a 97 cents per share dividend in FY 2020. Based on the current Sonic Healthcare share price, this will mean yields of 2.6% and 2.7%, respectively.
