2 buy-rated ASX dividend shares with growing yields

Here are a couple of dividend shares with great yields…

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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:

A man with a yellow background makes an annoncement, indicating share price changes on the ASX

Image source: Getty Images

Accent Group Ltd (ASX: AX1)

The first ASX dividend share to look at is this footwear focused retail group. It is the name behind a number of popular store brands such as The Athlete's Foot, HYPE DC, and Platypus. The company also has exclusive distribution of several brands in the Australian market, including Reebok.

Although FY 2022 will be a difficult year because of lockdowns, the company has been tipped to resume its solid growth next year. For example, the team at Bell Potter is forecasting earnings per share of 10.5 cents in FY 2022 and then 16.8 cents in FY 2023 and 19.4 cents in FY 2024.

In light of this, the broker believes it is well worth sticking with Accent and recently reiterated its buy rating and put a $3.05 price target on its shares.

As for dividends, its analysts are forecasting dividends per share of 10.5 cents in FY 2022 and 16.8 cents in FY 2023. Based on the latest Accent share price of $2.43, this represents yields of 4.3% and 6.9%, respectively.

Centuria Industrial REIT (ASX: CIP)

Another dividend share for income investors to look at is Centuria Industrial. It is an industrial focused property company with a portfolio of quality assets situated in key metropolitan locations throughout Australia.

Centuria Industrial notes that its portfolio is underpinned by strong tenant base with approximately 62% of portfolio income derived from occupants directly linked to the production, packaging and distribution of consumer staples, telecommunications and pharmaceuticals.

Macquarie is a fan of the company. It currently has an outperform rating and $4.16 price target on Centuria Industrial's shares.

The broker is also forecasting a 17.3 cents per share distribution in FY 2022 and an 18.7 cents per share distribution in FY 2023. Based on the current Centuria Industrial share price of $3.67, this will mean yields of 4.7% and 5.1%.

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 recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Dividend Investing

Two happy and excited friends in euphoria holding a smartphone, after winning in a bet.
Dividend Investing

2 ASX dividend shares I'd buy for passive income right now

High yields and defensive qualities make these ASX dividend shares stand out.

Read more »

Smiling woman with her head and arm on a desk holding $100 notes, symbolising dividends.
Dividend Investing

Want a pay rise? These ASX dividend stocks could deliver one

These shares keep rewarding patient investors year after year.

Read more »

Woman with headphones on relaxing and looking at her phone happily.
Dividend Investing

How to build an ASX dividend portfolio that pays you for life

Quality businesses, reliable cash flow, and growth create lasting dividends.

Read more »

Man holding Australian dollar notes, symbolising dividends.
Dividend Investing

How much could a $400,000 ASX share portfolio pay in dividends?

You don't need a million dollar portfolio to earn a good passive income.

Read more »

Close-up of a business man's hand stacking gold coins into piles on a desktop.
Dividend Investing

Chasing $500 a month in passive income? Here's how

The maths behind a $6,000 annual dividend income stream.

Read more »

$50 dollar notes jammed in the fuel filler of a car.
Dividend Investing

How many Woodside shares do I need to buy for a $1,000 monthly passive income?

Atop this year’s 37% share price gains, Woodside shares offer attractive passive income.

Read more »

Woman with headphones on relaxing and looking at her phone happily.
Dividend Investing

122,353 shares of this high-yield ASX dividend stock pays an income equal to the Age Pension

This high-yield dividend stock offers a lot of positives.

Read more »

Australian dollar notes in the pocket of a man's jeans, symbolising dividends.
Dividend Investing

Why Rio Tinto shares flew back onto my passive income radar this week

Following this week's big dividend boost, Rio Tinto’s passive income appeal came roaring back.

Read more »