Are you looking for options for a retirement portfolio? If you are, then you may want to look at the shares listed below.
Here’s why these ASX shares could be top options for retirees:
Elders Ltd (ASX: ELD)
The first ASX share for retirees to consider is this agribusiness giant. It provides livestock, real estate, feed and processing, wool agency services, financial planning, and grain marketing services to rural and regional customers across Australia and New Zealand.
Goldman Sachs is very positive on the company’s outlook and has a conviction buy rating and $15.65 price target on its shares.
In response to its strong full year result in November, Goldman said: “We expect ELD can continue this solid performance into FY22, with key drivers further delivering on the Eight Point Plan: (1) market share growth, with a pipeline of 27 further bolt-on acquisitions; (2) gross margin expansion driven by ongoing execution of backward integration in animal health and crop protection.”
As for dividends, Goldman expects 40 cents per share in FY 2022 and 42 cents per share in FY 2023. Based on the current Elders share price of $12.33, this will mean yields of 3.2% and 3.4%, respectively.
Transurban Group (ASX: TCL)
Another ASX share that could be a top option for a retirement portfolio is this leading toll road operator. Transurban owns a portfolio of 17 roads in Australia, four in North America, and a significant project pipeline across its networks that could support its growth in the coming years.
The team at Morgans appear to believe the company’s shares would be great long term options for investors.
The broker recently commented: “We view TCL as a high quality pure-play toll road infrastructure portfolio benefitting from employment and population growth, urbanisation, and the value of time, with particular exposure to the east coast capital cities in Australia.”
Morgans currently has an add rating and $14.57 price target on Transurban’s shares. In addition, the broker is forecasting dividends per share of 35 cents in FY 2022 and then 55.3 cents in FY 2023. Based on the current Transurban share price of $13.48, this will mean yields of 2.6% and 4.1%, respectively.