If you're wanting to boost your income portfolio with some new dividend shares in March, then the two listed below could be worth considering.
Here's what analysts are saying about these dividend shares right now:
Baby Bunting Group Ltd (ASX: BBN)
The first ASX dividend share to consider is Baby Bunting. It is a baby products retailer with a strong presence both online and through its growing collection of national superstores.
Citi is a fan of the company and recently reiterated its buy rating with a $6.22 price target. While it acknowledges that its shares trade on higher than average multiples, the broker believes its growth outlook justifies this.
It commented: "We see Baby Bunting well placed to outperform the broader small cap retail sector this year given the non-discretionary nature of its category. While the FY22 PE multiple of 24x (or 29x when adjusted for transformation costs) is not cheap, we forecast a FY21 to FY24 EPS CAGR of 17%, and see growth being driven by i) rollout, ii) ramp up of new stores, iii) margin expansion and iv) penetrating existing categories with low presence. Further, the stocks growth prospects are in some respects less risky than other high multiple retailers who are relying more on new markets and acquisitions."
Citi is forecasting fully franked dividends per share of 16 cents in FY 2022 and 19 cents in FY 2023. Based on the current Baby Bunting share price of $4.84, this will mean yields of 3.3% and 3.9%, respectively.
GQG Partners Inc (ASX: GQG)
Another dividend share for investors to look at is this recently listed fund manager.
Analysts at Morgans were pleased with its performance in FY 2021, noting that it delivered a result in line with expectations.
In response, the broker has retained its add rating with a slightly trimmed price target of $2.27.
Morgans commented: "Against a volatile/weak market in CY22 to-date, GQG has delivered strong relative outperformance across its four strategies. This should help solidify the near-term flows outlook. 1Q22 has begun solidly, with US$2.2bn of inflows to-date. GQG has seen a valuation de-rate along with the broader sector, however we view it as unwarranted. Both relative investment performance and flows remain strong. We view GQG's ~11x FY22 PE as attractive versus its diversity of earnings; current flows momentum; and expected growth. Add maintained."
As for dividends, the broker is expecting dividends of 9 cents per share in FY 2022 and then 10 cents per share in FY 2023. Based on the current GQG share price of $1.44, this will mean yields of 6.25% and 6.95%, respectively.
