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 why analysts are positive on these dividend shares:
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Accent Group Ltd (ASX: AX1)
The first ASX dividend share to look at is this footwear focused retail group behind popular store brands such as The Athlete's Foot, HYPE DC, and Platypus. The company has also recently acquired Glue Store and has a number of fledgling store brands with the potential to grow their footprints materially in the future.
While FY 2022 will be a tricky year because of lockdowns and a strong comparable period a year earlier, the future remains very bright. This is due to the popularity of its brands and its expansion opportunities.
The team at Bell Potter are very positive on the company. The broker currently has a buy rating and $2.90 price target on its shares. Its analysts are 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 $2.46, this represents yields of 3.8% and 5.4%, respectively.
Telstra Corporation Ltd (ASX: TLS)
Another dividend share to consider is Australia's largest telco, Telstra. After several disappointing years of earnings declines and dividend cuts, Telstra's outlook is now the best it has been in over a decade.
This is due to the success of its T22 strategy and the recent announcement of the T25 strategy that will replace it. Telstra's CEO, Andrew Penn, highlighted that T22 was based on transforming the company, whereas T25 will be about driving growth.
And the company certainly has some bold targets. Telstra is aiming for sustained growth and value by targeting mid-single digit underlying EBITDA and high-teens underlying earnings per share (EPS) compound annual growth rates (CAGR) from FY 2021 to FY 2025.
Since then, it has announced a deal with the government to acquire Digicel Pacific. This is expected to boost its earnings further in the coming years.
The team at Goldman Sachs are very positive on the company. Goldman currently has a buy rating and $4.40 price target on its shares. The broker is also 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.
Based on the current Telstra share price of $3.92, this will mean yields of 4.1% for the next couple of financial years.
