Top brokers name 2 ASX dividend shares to buy today

Here are two dividend shares brokers have named as buys…

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Fortunately, in this low interest rate environment, there are countless dividend shares for investors to choose from on the Australian share market.

But with so many to choose from, it can be hard to decide which ones to buy. To narrow things down, I have picked out two ASX dividend shares brokers think investors should buy:

Monash IVF Group Ltd (ASX: MVF)

According to a note out of the Macquarie equities desk, its analysts have initiated coverage on this fertility treatment company’s shares with an outperform rating and $1.00 price target. The broker notes that trading conditions are very favourable in the IVF industry and its outlook is positive.

In addition to this, Macquarie highlights that the company’s balance sheet is strong thanks to last year’s capital raising. Macquarie is forecasting a 4.1 per share fully franked dividend in both FY 2021 and FY 2022. Based on the current Monash IVF share price of 83.7 cents, this will mean attractive yields of 4.9% for income investors.

Sandfire Resources Ltd (ASX: SFR)

A note out of Credit Suisse reveals that its analysts have retained their outperform rating and $8.55 price target on this copper producer’s shares. The broker was pleased with Sandfire Resources’ strong finish to the year, with copper and gold production at DeGrussa surprising to the upside. Sandfire Resources produced 70,845 metric tons of copper during the 12 months, above its guidance of 67,000 to 70,000 tons.

Credit Suisse believes the company is well-placed to grow its earnings and dividend. In respect to the latter, it is forecasting fully franked dividends of 39.2 cents per share in FY 2021 and then 40.1 cents per share in FY 2022. With the Sandfire Resources share price currently trading at $6.80, this will mean yields of 5.75% and 5.9%, respectively, over the next two financial years.

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When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

Motley Fool contributor James Mickleboro has no position in any of the stocks 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 has no position in any of the stocks mentioned. 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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