Are you looking for some excellent ASX dividend shares to add to your income portfolio?
Then you might want to look at the ones listed below. Here's what you need to know about these dividend shares:
Fortescue Metals Group Limited (ASX: FMG)
The first ASX dividend share to look at is Fortescue. It is one of the world's largest producers of iron ore, with world class operations across the Pilbara region in Western Australia.
Fortescue has been tipped to reward shareholders with very generous dividends in the near term thanks to the sky high iron ore price and its low cost guidance of US$13.50 to US$14.00 per wet metric tonne.
Ord Minnett is very positive on the company and is forecasting fully franked dividends of $3.33 per share in FY 2021 and $2.90 per share in FY 2022. With the Fortescue share price currently fetching $25.82, this will mean massive dividend yields of 12.9% and 11.2%, respectively.
Its analysts have a buy rating and $30.00 price target on the company's shares.
Stockland Corporation Ltd (ASX: SGP)
Another ASX dividend share to look at is Stockland. It is a property company which owns, manages and develops a diverse range of property assets. These include retirement villages, retail centres, business parks, offices, and logistics centres.
It also just has announced a binding agreement to acquire Queensland based Halcyon Group's land lease communities business for $620 million. This comprises 3,800 sites across 13 land lease communities, made up of six established land lease communities, four communities in development, and three projects in planning.
Morgan Stanley is feeling bullish about Stockland and currently has an overweight rating and $5.00 price target on its shares.
Its analysts are also forecasting some generous distributions in the near term. Morgan Stanley has pencilled in distributions of 24.6 cents per share in FY 2021 and then 26.6 cents per share in FY 2022. Based on the current Stockland share price of $4.37, this will mean yields of 5.6% and 6.1%, respectively.
