2 ASX dividend shares with 4%+ yields

These dividend shares offer 4%+ yields in FY 2022…

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Looking for some dividend shares for next week? If you are, check out these dividend shares that could be in the buy zone after recent market weakness.

Here’s what you need to know about them:

Centuria Industrial Reit (ASX: CIP)

The first ASX dividend share to look at is Centuria Industrial. It is the largest domestic pure play industrial REIT on the Australian share market with a portfolio of high-quality industrial assets.

These assets are situated in key metropolitan locations throughout Australia with an 89% weighting to Australia’s high performing eastern seaboard industrial markets. In respect to its tenant base, almost two-thirds of portfolio income is derived from occupants directly linked to the production, packaging and distribution of consumer staples, telecommunications and pharmaceuticals.

Macquarie is a fan of the company. Its analysts are forecasting dividends per share of 17.3 cents in FY 2022 and 18.7 cents in FY 2023. Thanks to a recent pullback in the Centuria Industrial share price to $3.82, this will mean yields of 4.5% and 4.9%, respectively.

The broker also sees upside for its shares and has an outperform rating and $4.37 price target on them.

Telstra Corporation Ltd (ASX: TLS)

Another ASX dividend share to consider is this telco giant.

Earlier this month the Telstra share price reached a multi-year high of $4.31. But due to the recent market volatility, it closed the week down at $3.96.

This could be a big positive for income investors, with the yield on offer with its shares back to 4% based on its plans to pay a fully franked 16 cents per share dividend in FY 2022.

In addition, the team at Morgans believe there is decent upside for the Telstra share price from the current level. A recent note reveals that the broker has an add rating and $4.55 price target. This suggests the company’s shares could rise 15% from current levels in 2022.

The broker believes industry conditions are positive and Telstra’s sum of the parts (SOTP) is worth more than its current valuation.

Morgans commented: “Industry dynamics have turned positive (NBN and mobile prices are increasing after 5 years of decline; TLS’s targets imply they continue to rise). The SOTP for TLS is worth more than the current share price (and steps to release this value are underway; albeit timing is unclear).”

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 has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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