2 highly rated ASX dividend shares with attractive yields

These dividend shares are highly rated and offer attractive yields…

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The Australian share market is home to a large number of companies sharing their profits with shareholders in the form of dividends. This certainly is a big positive given how low interest rates have fallen.

Two ASX dividend shares that offer attractive yields are listed below. Here's what you need to know about them:

Carsales.Com Ltd (ASX: CAR)

This auto listings company could be a dividend share to look closely at. Carsales is of course the dominant auto listings company in the ANZ market. It also has a number of operations across the world.

This will soon include the US-based Trader Interactive. Carsales recently announced an agreement to acquire the leading digital marketing solutions and services provider to the commercial truck, recreational vehicle, powersports, and equipment industries.

One broker that is positive on the company's future is Morgan Stanley. Its analysts currently have an outperform rating and $23.00 price target on its shares. This compares to the latest Carsales share price of $18.90.

Morgan Stanley is also forecasting dividends of 62 cents per share in FY 2021 and 71.6 cents per share in FY 2022. This represents fully franked dividend yields of 3.3% and 3.8%, respectively.

Transurban Group (ASX: TCL)

Another ASX dividend share for investors to look at is this leading toll road operator.

Transurban currently has a portfolio of 17 roads in Australia and four in North America. It also has a significant project pipeline across its networks that could support its growth in the coming years.

And while trading conditions are mixed at the moment due to the pandemic, there have been significant improvements in recent months. For example, during the month of March, Transurban's monthly traffic was down just 5% compared to the prior corresponding period. This compares to an 11% decline in February.

One broker that is particularly positive on the company is Ord Minnett. Its analysts currently have a buy rating and $16.00 price target on the company's shares. This compares to the latest Transurban share price of $14.37.

Ord Minnett is forecasting dividends of 37 cents per share in FY 2021 and then 58 cents per share in FY 2022. This will mean yields of 2.6% and 4%, respectively, over the next two years.

James Mickleboro does not own any shares mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Transurban Group. The Motley Fool Australia has recommended carsales.com 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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