2 ASX dividend shares with attractive yields

Transurban Group (ASX:TCL) and this ASX dividend share could be good options for income investors…

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If you're looking to boost your income with some dividend shares, then you might want to consider the ones listed below.

Here's what you need to need to know about them:

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Rural Funds Group (ASX: RFF)

The first ASX dividend share to look at is Rural Funds. It is an Australian agricultural property company with a portfolio of high quality assets. These properties are leased to some of the biggest players in the agricultural sector on long term agreements.

The great thing about these leases is the rental increases built into them. This means the company is well-positioned to grow its rental income a consistently solid rate over the next decade. This in turn means Rural Funds is well-placed to deliver on its distribution growth target of 4% per annum.

In FY 2022, Rural Funds intends to reward its shareholders with a distribution of 11.73 cents per share. This will be up 4% on FY 2021's distribution. Based on the current Rural Funds share price of $2.47, this will mean a yield of 4.75%.

Transurban Group (ASX: TCL)

Another ASX dividend share to look at is Transurban. It is one of the world's leading toll road operators, with a number of important roads across Australia and North America.

Although the pandemic has impacted traffic volumes, particularly on roads connecting to airports, there has been a notable improvement in 2021 as vaccines roll out. This is likely to continue improving as people become more mobile and airports become busy again.

Ord Minnett is positive on the company and is expecting its distribution to rebound strongly in FY 2022. It is forecasting dividends of 37 cents per share in FY 2021 and then 58 cents per share in FY 2022. Based on the latest Transurban share price of $13.90, this will mean forward yields of 2.7% and 4.2%, respectively.

The broker has a buy rating and $16.00 price target on the company's shares.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended RURALFUNDS STAPLED. The Motley Fool Australia owns shares of Transurban 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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