2 ASX shares with growing fully franked dividends

Analysts rate these dividend shares as buys…

| More on:
Cool woman in a bright yellow suit and sunglasses excited about the cash she's splashing, flicking notes all around her.

Image source: Getty Images

Investors that are interested in boosting their income portfolio with some dividend shares might want to look at the ones listed below.

Here’s what you need to know about these top dividend shares:

Australia and New Zealand Banking GrpLtd (ASX: ANZ)

The first ASX dividend share to buy is ANZ. It could be a good option in the banking sector due to its strong position in commercial banking. This gives it some protection from the margins pressures in retail banking from aggressive competition for mortgages.

It is for this reason that Macquarie currently has an outperform rating and $30.00 price target on the bank’s shares. As for dividends, the broker is forecasting dividends per share of 145 cents in FY 2022 and 150 cents in FY 2023.

Based on the current ANZ share price of $28.39, this equates to fully franked yields of 5.1% and 5.3%, respectively, over the next two years.

Bapcor Ltd (ASX: BAP)

Bapcor could be an ASX dividend share to buy. Through brands including Autobarn, Burson Auto Parts and Midas, it is Australia’s leading provider of vehicle parts, accessories, equipment, service and solutions.

Its shares have come under significant pressure in recent weeks following the unceremonious exit of its CEO. While this is disappointing for shareholders, it could be a buying opportunity for non-shareholders.

That’s the view of the team at Credit Suisse. It recently retained its outperform rating with a trimmed price target of $7.90. The broker remains positive on Bapcor’s earnings and dividend outlook. In respect to the latter, the broker is forecasting fully franked dividends of 23 cents in FY 2022 and 24.6 cents in FY 2023.

Based on the current Bapcor share price of $6.92, this will mean yields of 3.3% and 3.6%, respectively.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*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 has recommended Bapcor. 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