Are you looking for dividend shares to buy in April? If you are, then you might want to look at the ASX shares listed below.
Here's why analysts think these ASX dividend shares could be worth considering right now:
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Baby Bunting Group Ltd (ASX: BBN)
The first ASX dividend share to consider is Baby Bunting. It is a leading baby products retailer with a strong and growing presence through its national superstores and online business.
Citi is a fan of the retailer and currently has a buy rating and $6.22 price target on its shares. It is positive on Baby Bunting due to its clear leadership position in a less discretionary category which benefits from around 300,000 births a year in Australia.
The broker commented: "[W]e 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."
As for dividends, Citi has pencilled in 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 $4.96, this will mean yields of 3.2% and 3.8%, respectively.
Telstra Corporation Ltd (ASX: TLS)
Another ASX dividend share that could be a buy is Telstra. This is due to the telco giant's increasingly positive outlook after almost a decade of struggles.
This positive outlook is being underpinned by the highly successful execution of its transformative T22 strategy and the impending growth-orientated T25 strategy.
The team at Morgans is positive on Telstra. It currently has an add rating and $4.55 price target on the company's shares. The broker feels the market is undervaluing its shares on a sum of the parts basis and notes that "[s]ector dynamics look positive and value realisation is possible."
In respect to dividends, Morgans continues to expect fully franked dividends per share of 16 cents for FY 2022 and FY 2023. Based on the current Telstra share price of $3.93, this implies yields of 4.1%.
