Looking for dividend shares to buy this month? Then have a look at the ones listed below that have been given buy ratings.
Here's what you need to know about these dividend shares:
Australia and New Zealand Banking Group (ASX: ANZ)
If you don't already have exposure to the banking sector, then this banking giant could be a dividend share to buy. That's the view of the team at Bell Potter, which currently has a buy rating and $31.00 price target on the bank's shares.
It could be a top option due to its strong position in commercial banking, which gives the bank some protection from the margin pressures being experienced in retail banking from aggressive competition for mortgages.
As for dividends, Bell Potter is forecasting some generous dividend payments in the near term. It has pencilled in fully franked dividends per share of 144 cents in FY 2022 and then 151 cents in FY 2023. Based on the current ANZ share price of $27.07, this implies yields of 5.3% and 5.6%, respectively, over the next two years.
Coles Group Ltd (ASX: COL)
Another ASX dividend share that could be in the buy zone is Coles. It is of course one of Australia's biggest retailers with over 800 supermarkets, over 900 liquor retail stores, and over 700 Coles express stores.
Thanks to this store network, which continues to grow, its track record of consistent same store sales growth, and its focus on automation, Coles has been tipped to continue its solid growth long into the future. Combined with its favourable dividend policy, this bodes well for dividends in the coming years.
Citi is a fan of Coles and sees a lot of value in its shares right now. It currently has a buy rating and $19.50 price target on them.
As for dividends, the broker is forecasting 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 $16.61, this implies yields of 3.9% and 4.3%, respectively.
