2 top ASX dividend shares to buy next week

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

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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:

Accent Group Ltd (ASX: AX1)

The first ASX dividend share to look at is this footwear focused retailer. It owns a number of brands including The Athlete’s Foot, Platypus, and HypeDC, to name just three.

Accent has been growing at a strong rate over the last decade thanks to the popularity of these brands, the launch of new ones, and its expanding footprint. Pleasingly, all three drivers remain in place for the future.

And while FY 2022 is going to be a tough year because of lockdowns, Accent has been tipped to bounce back and resume its growth in FY 2023. For example, a recent note out of Bell Potter reveals that it expects the company’s profits to fall 25% to $57.3 million in FY 2022 before rebounding to $91.5 million in FY 2023. This is expected to lead to fully franked dividends per share of 9.1 cents and 13.5 cents, respectively.

Based on the current Accent share price of $2.19, this will mean yields of 4.15% and 6.15%, respectively. Bell Potter also sees plenty of upside potential with its price target of $3.05.

Telstra Corporation Ltd (ASX: TLS)

Another ASX dividend share to consider is telco giant Telstra. Although its shares have been in fine form over the last 12 months, a number of leading brokers don’t believe it is too late to invest.

This is due to the success of its transformational T22 strategy and the recent unveiling of its new T25 strategy. Analysts believe the latter will drive solid growth in the coming years, potentially putting Telstra in a position to increase its dividend for the first time in many years.

Goldman Sachs is very positive on the company. It currently has a buy rating and $4.40 price target on its shares. In respect to dividends, the broker is forecasting fully franked dividends per share of 16 cents in FY 2022 and FY 2023 before increases to 18 cents in FY 2024 and then 19 cents in FY 2025.

Based on the current Telstra share price of $4.22, this will mean yields of 3.8% for two years and then 4.25% and finally 4.5%.

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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 Telstra Corporation Limited. 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.

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