Analysts name 2 ASX dividend shares to buy now

Are you looking for some quality ASX dividend shares to add to your income portfolio this month? Then you might …

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

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

ASX dividend shares represented by cash in jeans back pocket

Image source: Getty Images

Stockland Corporation Ltd (ASX: SGP)

The first 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 was back on form in FY 2021, reporting a statutory profit of $1.1 billion. This was up from a $21 million loss in FY 2020.

The team at Citi were pleased with Stockland's performance. In response, the broker put a buy rating and $5.03 price target on the company's shares.

In addition, its analysts are forecasting dividends per share of 28 cents in FY 2022 and 28.5 cents in FY 2023.

Based on the current Stockland share price of $4.49, this will mean yields of 6.2% and 6.3%, respectively.

Transurban Group (ASX: TCL)

Another ASX dividend share to consider is Transurban. This leading toll road operator has a portfolio of important roads in Melbourne, Sydney and Brisbane, Greater Washington, United States and Montreal, Canada.

Analysts at Ord Minnett remain very positive on the company. Although they acknowledge that the near term will be impacted by lockdowns, they appear confident that its road will bounce back swiftly once restrictions ease.

Longer term, the broker believes Transurban is well-placed for the next phase of its growth thanks to a significant pipeline of opportunities.

As a result, its analysts have a buy rating and $15.50 price target on its shares at present.

In addition, Ord Minnett is forecasting dividends of 36.5 cents per share in FY 2022 and then 48.4 cents per share in FY 2023. Based on the latest Transurban share price of $13.98, this will mean yields of 2.6% and 3.5%, respectively.

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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