Westpac (ASX:WBC) and this ASX dividend share could be buys in October

Here are two dividend shares to buy next month…

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If you’re an income investor on the lookout for new additions to your portfolio, then you may want to check out the shares listed below.

These dividend shares have recently been rated as buys and are tipped to provide above average yields in the coming years.

Here’s what you need to know about these dividend shares:

Aventus Group (ASX: AVN)

The first ASX dividend share to look at is Aventus. It is a fully integrated owner, manager, and developer of large format retail centres with a portfolio of 20 centres valued at $2.3 billion. At the end of FY 2021, the company had 593 tenancies and a sky high occupancy rate of 98.8%.

This went down well with analysts at Goldman Sachs. They currently have a buy rating and $3.40 price target on its shares. This compares to the current Aventus share price of $3.21.

Goldman is also forecasting dividends of 17.8 cents per share in FY 2022 and then 19.4 cents per share in FY 2023. Based on the its current share price, this will mean generous yields of 5.5% and 6%, respectively, over the next two years.

Westpac Banking Corp (ASX: WBC)

Another ASX dividend share to look at is this banking giant. It could be a good option for income investors that don’t already have meaningful exposure to the sector. This is due to its improving performance, cost cutting plans, and strong balance sheet.

The team at Citi are very positive on the bank. The broker currently has a buy rating and $30.00 price target on Westpac’s shares. This compares very favourably to the latest Westpac share price of $25.17.

In addition, Citi is forecasting fully franked dividends of $1.16 per share in FY 2021 and then $1.30 per share in FY 2022. This represents yields of 4.6% and 5.1%, respectively.

Should you invest $1,000 in Westpac right now?

Before you consider Westpac, you'll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now... and Westpac wasn't one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

Motley Fool contributor James Mickleboro owns shares of Westpac Banking Corporation. 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 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.

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