Are you looking to add some new faces to your income portfolio this week? If you are, then you might want to look at the ASX dividend shares listed below.
Here's what you need to know about them:
Coles Group Ltd (ASX: COL)
The first dividend share to consider is this supermarket operator. It could be a good option due to the overall quality of its business model, its solid growth prospects, and generous dividend policy. The latter sees the company aim to pay shareholders 80% to 90% of its earnings as dividends.
One broker that believes the Coles share price is in the buy zone is Goldman Sachs. Last month the broker responded to Coles' third quarter update by retaining its buy rating and trimming its price target slightly to $20.50.
As for dividends, Goldman is expecting dividends per share of 62 cents in FY 2021 and 66 cents in FY 2022. Based on the current Coles share price of $16.21, this will mean fully franked yields of 3.8% and 4%, respectively, over the next two years.
Transurban Group (ASX: TCL)
Another ASX dividend share to look at is Transurban. It is a toll road operator with a portfolio of important roads throughout Australia and North America.
While traffic has been soft on its roads during the pandemic, it is starting to bounce back. The good news with this is that as traffic levels recover so too will its distributions.
It is for this reason that analysts at Ord Minnett are forecasting dividends of 37 cents per share in FY 2021 and then 58 cents per share in FY 2022. Based on the current Transurban share price of $14.34, this will mean yields of 2.6% and 4%, over the next two years.
Macquarie has an outperform rating and $16.00 price target on its shares.
