If you're in the process of building an income portfolio, then you might want to look at the shares listed below.
Here's why these ASX dividend shares could be in the buy zone right now:
Accent Group Ltd (ASX: AX1)
The first ASX dividend share that could be in the buy zone is Accent. It is the owner of a growing portfolio of store brands including Glue, HYPEDC, Pivot, Platypus, Sneaker Lab, and Stylerunner.
While lockdowns have weighed heavily on its performance in FY 2022, the team at Bell Potter believe it is worth sticking with the company. Especially with its analysts forecasting a big rebound in Accent's profits and dividends in FY 2023.
Bell Potter has pencilled in a fully franked dividend of 6 cents per share in FY 2022 and then 11 cents per share in FY 2023. Based on the current Accent share price of $2.00, this will mean yields of 3% and 5.5%, respectively.
Bell Potter also sees plenty of upside for the company's shares. It has a buy rating and $2.75 price target on them.
Woodside Petroleum Limited (ASX: WPL)
Another ASX dividend share that could be in the buy zone is Woodside. This energy producer's shares may have stormed 23% higher so far in 2022, but they are still expected to provide investors with generous yields in the near term.
In addition, the future looks very bright for Woodside thanks to its upcoming merger with the petroleum assets of BHP Group Ltd (ASX: BHP). This transformative merger with make the company a top ten global producer with a collection of world class operations and numerous growth options.
Morgans is a fan of Woodside and is forecasting dividends per share of $1.29 in FY 2022 and then 94 cents in FY 2023. Based on the current Woodside share price of $27.95, this will mean yields of 4.6% and 3.4%, respectively.
The broker has an add rating and $30.35 price target on its shares.
