2 high yield ASX dividend shares named as buys

These dividend shares are expected to pay big dividends…

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Are you looking for some quality dividend shares to buy next week? If you are, then you may want to look at the two listed below.

Here's why analysts rate these ASX dividend shares as buys:

Woman holding some cash

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BHP Group Ltd (ASX: BHP)

The first dividend share for investors to look at is this mining giant. The BHP share price has come under significant pressure in recent months due to the well-documented collapse in iron ore prices.

However, it is worth noting that BHP is far from a one-trick pony and has exposure to a range of commodities. Some of which have risen during the last few months and are supporting strong free cash flow generation.

It is because of this that Macquarie continues to rate the Big Australian's shares as a buy. It currently has an outperform rating and $52.00 price target on its shares.

In addition, the broker is forecasting fully franked dividends of $3.76 per share in FY 2022 and $2.81 per share in FY 2023. Based on the current BHP share price of $36.45, this will mean yields of 10.3% and 7.7%, respectively.

Scentre Group (ASX: SCG)

Another ASX dividend share to look at is this shopping centre operator. It owns and operates the pre-eminent living centre portfolio in the ANZ market comprising 42 Westfield living centres.

The team at Goldman Sachs is very positive on Scentre. The broker notes that the company had a tough third quarter but has been pleased with its improving performance since the lifting of lockdowns.

The broker highlighted that "momentum picked up in the month of October as restrictions eased and we estimate SCG collected roughly over 81% billings over the month and we expect this to continue to improve as more stores reopen over the coming weeks."

Goldman has a buy rating and $3.47 price target on its shares. It also estimates that Scentre's shares will provide investors with yields of 5% in FY 2022 and 5.8% in FY 2023.

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 has no position in any of the stocks mentioned. 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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