2 top ASX shares with generous fully franked dividend yields

These dividend shares offer attractive fully franked dividends…

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If you’re wanting to add some ASX dividend shares to your portfolio, then the two listed below could be ones to consider.

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

Accent Group Ltd (ASX: AX1)

The first ASX dividend share to look at is this footwear focused retailer.

Thanks to the popularity of brands such as The Athlete’s Foot, HYPE DC, and Platypus, Accent has been growing at a strong rate in recent years. And while it will be hard to top this in FY 2022 because of lockdowns, its long term outlook remains very positive.

Bell Potter is a fan of the company. It has a buy rating and $2.90 price target on its shares. The broker is also forecasting dividends per share of 9.3 cents in FY 2022 and 13.3 cents in FY 2023.

Based on the latest Accent share price of $2.47, this represents yields of 3.8% and 5.4%, respectively.

Telstra Corporation Ltd (ASX: TLS)

Another dividend share to look at is this telco giant. It could be a top option due to to its improving outlook which is being underpinned by the success of its T22 strategy. Telstra has also just announced its T25 strategy which has a focus on growth.

That strategy will see Telstra aim for sustained growth and value by targeting mid-single digit underlying EBITDA and high-teens underlying earnings per share compound annual growth rates (CAGR) from FY 2021 to FY 2025.

Analysts at Goldman Sachs are positive on the company. They have a buy rating and $4.40 price target on its shares. And pleasingly, after years of cuts, Goldman believes it won’t be long until the Telstra dividend starts to grow again.

The broker is forecasting 16 cents per share dividends for FY 2022 and FY 2023, before an increase to 18 cents per share in FY 2024 and then 19 cents per share dividend in FY 2025. It also believes there’s upside potential in FY 2024.

Based on the current Telstra share price of $3.75, this will mean yields of 4.25% for the next couple of financial years.

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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 Accent Group. 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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