2 quality ASX dividend shares

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Are you looking for some quality ASX dividend shares to add to your income portfolio? 

Then you might want to take a look at the ones listed below. Here’s what you need to know about these dividend shares:

Accent Group Ltd (ASX: AX1)

The first ASX dividend share to look at is Accent Group. It is a retail conglomerate primarily focused on the footwear market.

Accent has been growing its earnings and dividends at a solid rate in recent years thanks to the popularity of its store brands, exclusive offering, and its expanding footprint. 

This positive form has continued in FY 2021, with Accent reporting a 6.6% increase in first half sales to $541.3 million and a 57.3% increase in net profit after tax to $52.8 million. Pleasingly, its impressive form has continued in the third quarter, with Accent recently reporting an acceleration in its sales growth.

Bell Potter is a big fan of the company and has a buy rating and $3.30 price target on its shares. The broker is also expecting dividends of 11.7 cents per share in FY 2021 and a 12.3 cents per share in FY 2022. Based on the current Accent share price of $2.75, this will mean a fully franked yields of 4.25% and 4.3%, respectively.

Sonic Healthcare Limited (ASX: SHL)

Another ASX dividend share to look at is this global healthcare provider. Sonic has specialist operations in laboratory medicine, pathology, diagnostic imaging, radiology, general practice medicine, and corporate medical services.

Demand for its offering has been strong in FY 2021, particularly for COVID-19 testing. This has underpinned very strong earnings growth. And with COVID testing not going anywhere any time soon, even with vaccines rolling out, Sonic looks well-placed to continue its growth in FY 2022.

Credit Suisse is positive on the company. It has an outperform rating and $40.00 price target on its shares. It is also forecasting partially franked dividends of 93 cents per share in FY 2021 and 97 cents per share dividend in FY 2022. Based on the current Sonic Healthcare share price of $34.61, this will mean yields of 2.7% and 2.8%, respectively.

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Returns As of 15th February 2021
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group and Sonic Healthcare Limited. 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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