Here are 2 ASX dividend shares to buy in 2022

These dividend shares could be buys in 2022…

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Looking for dividend shares to buy in 2022? Then have a look at the ones listed below that have been given buy ratings.

Here’s what you need to know about them:

Bapcor Ltd (ASX: BAP)

The first ASX dividend share to look at is Bapcor. It is the Asia Pacific’s leading provider of vehicle parts, accessories, equipment, service and solutions.

Its shares have been sold off in recent weeks amid the acrimonious exit of its CEO following a boardroom spat. While this is disappointing for shareholders, it could be a buying opportunity for patient income investors.

Particularly given Bapcor’s strong market position, store rollout plans, supply chain optimisation initiatives, and increasing private label penetration. This bodes well for its future growth once it has identified a new leader.

Credit Suisse thinks investors should stick with Bapcor and has recently put an outperform rating and lofty $9.20 price target on its shares. The broker is also forecasting fully franked dividends per share of 23 cents in FY 2022 and 24.6 cents in FY 2023. Based on the current Bapcor share price of $7.03, this will mean yields of 3.3% and 3.5%, respectively.

Coles Group Ltd (ASX: COL)

Another ASX dividend share to look at is Coles. Over a century after opening its first store in Collingwood, Coles is now one of the big two supermarket operators with over 800 supermarkets. It also operates over 900 liquor retail stores and over 700 Coles express stores.

This gives Coles significant defensive qualities, which have been on display for all to see over the last couple of years.

Looking ahead, management is ensuring that it maintains its leadership position by growing its network further and investing heavily in automation. The latter will make its operations more efficient and support the growth of its online shopping business.

Citi is positive on Coles’ outlook. It currently has a buy rating and $19.60 price target on its shares. The broker has also pencilled in fully franked dividends per share of 64.5 cents in FY 2022 and 71.5 cents in FY 2023.

Based on the current Coles share price of $17.95, this implies yields of 3.6% and 4%, respectively.

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*Returns as of January 12th 2022

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 owns and has recommended COLESGROUP DEF SET. The Motley Fool Australia has recommended Bapcor. 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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