Telstra (ASX:TLS) and this ASX dividend share are rated as buys

Telstra and this ASX share offer generous dividend yields…

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Are you looking for some attractive dividend yields to boost your income? Then you want to look at the ones listed below.

Here's why these dividend shares could be great options for income investors in August:

asx dividend shares represented by tree made entirely of money

Image source: Getty Images

Aventus Group (ASX: AVN)

The first ASX dividend share to look at is Aventus. It is a property company with a focus on large format retail parks.

Thanks to its high level of exposure to the household goods and everyday needs categories, Aventus has been one of the strongest performing retail property companies during the pandemic. This has led to solid rental income growth and an increase in the value of its properties.

Goldman Sachs has been impressed with its performance and expects it to continue. So much so, it has a buy rating and $3.27 price target on the company's shares.

And based on the current Aventus share price, it estimates that its shares will provide investors with yields of 5.3%, 6%, and 6.6%, respectively, between FY 2021 and FY 2023.

Telstra Corporation Ltd (ASX: TLS)

Another ASX dividend share to look at is Telstra. The telco giant's shares may have just hit a 52-week high, but they are still expected to provide investors with generous yields in the coming years.

Goldman Sachs is also a fan of Telstra. It currently has a buy rating and $4.20 price target on the company's shares.

Goldman likes Telstra partly due to its leadership position with 5G, which it expects to support growth in its post-paid mobile average revenue per user (ARPU) metric in the coming years. Together with its corporate restructure and potential asset monetisation, the broker believes Telstra's outlook is positive.

The broker is forecasting fully franked annual dividends of 16 cents per share through to FY 2023. After which, it expects a long-awaited dividend increase to 18 cents per share in FY 2024.

Based on the latest Telstra share price of $3.85, this will mean attractive yields of approximately 4.15% for the next three years.

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 owns shares of and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended AVENTUS RE UNIT. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Dividend Investing

A little boy in flying goggles and wings rides high on his mum's back with blue skies above.
Opinions

Why I think now is a great time to buy Qantas shares for long-term passive income

Qantas shares are now trading on a fully franked dividend yield of 5.5%.

Read more »

Woman smiling with her hands behind her back on her couch, symbolising passive income.
Dividend Investing

Don't want to rely on your wage? Build a second income with these ASX shares

Dividend payments can supplement a wage, here are two top contenders for goal.

Read more »

Australian dollar notes in the pocket of a man's jeans, symbolising dividends.
Dividend Investing

Retirees, check out this new $330m listed investment company which aims to pay monthly fully franked dividends

If you're looking for income, this might be just the thing.

Read more »

A businessman looking at his digital tablet or strategy planning in hotel conference lobby. He is happy at achieving financial goals.
Dividend Investing

2 ASX dividend stocks Morgans rates as buys

Let's see what the broker is bullish on this month.

Read more »

Happy young woman saving money in a piggy bank.
Dividend Investing

Here's how much I'd need to invest in BHP shares to generate a $100 monthly income

BHP is one of the ASX’s top dividend payers and could be a good option for income investors.

Read more »

Dividend Investing

These buy-rated ASX dividend shares offer 7% to 8% yields

Morgans is expecting some big dividend yields from these shares.

Read more »

Woman in bed rolls over to hit clock
Dividend Investing

14 ASX shares about to go ex-dividend

Stocks going ex-dividend include Flight Centre, Perenti, NRW Holdings, and Service Stream.

Read more »

Australian dollar notes in the pocket of a man's jeans, symbolising dividends.
Dividend Investing

How many Santos shares do I need to buy for $10,000 a year in passive income?

Santos shares have delivered two yearly dividend payouts since 2019.

Read more »