While the outlook for interest rates is improving, it is still likely to be some time before they reach normal levels again.
In light of this, at least for the time being, the share market arguably remains the best place to earn a passive income.
But which ASX dividend shares should you consider buying? Two that are rated highly are listed below. Here's what you need to know about them:
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Accent Group Ltd (ASX: AX1)
The first dividend share to look at is Accent. It is a footwear-focused retail giant which owns a collection of popular store brands including HYPEDC, Platypus, Sneaker Lab, Stylerunner, and The Athlete's Foot.
The popularity of these brands and their growing footprints have underpinned strong sales, profit, and dividend growth over the last few years. And while lockdowns have made it unlikely for Accent to achieve further growth in FY 2022, the long term looks very positive.
It is for this reason that the team at Bell Potter has put a buy rating and $2.90 price target on its shares. Bell Potter likes the company partly for its shift in strategic focus to innovation in its core business and expansion through new concepts and small targeted acquisitions.
The broker is forecasting fully franked 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 $2.54, this represents yields of 3.65% and 5.2%, respectively.
Charter Hall Social Infrastructure REIT (ASX: CQE)
Another ASX dividend share for income investors to look at is the Charter Hall Social Infrastructure REIT. As its name implies, this real estate investment trust focuses on investing in social infrastructure properties.
These properties include childcare centres, government sites, and healthcare buildings. The company added to its portfolio last week with the acquisition of two premium childcare assets in Queensland and a healthcare property owned by Healius Ltd (ASX: HLS) for a total of $58.4 million.
Goldman Sachs was pleased with the acquisitions. In response, the broker retained its conviction buy rating, increased its price target to $3.91, and lifted its FY 2022 dividend estimate to 16.9 cents per share.
Based on the current Charter Hall Social Infrastructure REIT share price of $3.83, this implies a dividend yield of 4.4% for investors.
