If you're an income investor on the lookout for new additions, then you may want to check out the dividend shares listed below.
Here's why analysts have buy ratings on these dividend shares:
Accent Group Ltd (ASX: AX1)
The first ASX dividend share to look at is Accent. While its name may not be familiar, its collection of footwear-focused store brands is likely to be. Accent has a growing portfolio of brands including HYPEDC, Platypus, Sneaker Lab, Stylerunner, and The Athlete's Foot.
But Accent is unlikely to stop there. The company is not afraid to test the waters with new ideas and then put money behind the ones that work. This strategy has been working wonders and has helped Accent grow at a consistently solid rate over the last few years.
Another positive is the company's ability to win exclusive licences for footwear brands. This was evident this week when Accent announced a 10-year agreement to become Reebok's exclusive distributor in the ANZ market.
Bell Potter is a bullish on the company. It currently has a buy rating and $2.90 price target on its shares. Its analysts are also forecasting dividends of 9.3 cents per share in FY 2022 and then 13.3 cents per share in FY 2023.
Based on the latest Accent share price of $2.57, this represents fully franked yields of 3.6% and 5.2%, respectively.
Westpac Banking Corp (ASX: WBC)
Another ASX dividend share that could be in the buy zone is this banking giant.
The Westpac share price has fallen heavily this month following the release of its full year results. Although the bank delivered a 105% jump in cash earnings to $5,352 million, its very weak margin outlook spooked the market and sent investors to the exits.
While this is disappointing, a number of brokers believe it has created a buying opportunity for investors. One of those is Morgans.
In response to the result, the broker retained its add rating and lifted its price target to $30.50.
Morgans is also forecasting fully franked dividends of $1.23 per share in FY 2022 and then $1.62 per share in FY 2023. Based on the current Westpac share price of $22.15, this will mean yields of 5.5% and 7.3%, respectively.
