With inflation rising fast, income investors may want to look at the dividend shares listed below for a boost to their income.
Here's why these two ASX dividend shares have been rated as buys:
Charter Hall Long WALE REIT (ASX: CLW)
The first dividend share to look at is the Charter Hall Long Wale REIT. This REIT manages a wide range of listed and unlisted property funds for institutional and retail investors with a focus on office, industrial, and retail sectors.
Earlier this year the company added to its portfolio with the acquisition of ALE Property with Hostplus for ~$1.7 billion. This added ~78 hotel properties that are all leased to ALH Group, which is part of drinks giant Endeavour Group Ltd (ASX: EDV).
Morgan Stanley is a fan of Charter Hall Long Wale REIT. It currently has an overweight rating and $5.85 price target on its shares.
The broker is also forecasting dividends per share of 30.6 cents in FY 2022 and 31.9 cents in FY 2023. Based on the current Charter Hall Long Wale REIT share price of $4.64, this will mean yields of 6.6% and 6.9%, respectively.
Westpac Banking Corp (ASX: WBC)
Another ASX dividend share that could be a buy is Westpac. It is of course one of Australia's big four banks.
Australia's oldest bank has seen its shares crash in recent weeks amid concerns about Australia falling into a recession due to quicker than expected rate hikes. While a recession certainly is possible, the team at Citi aren't concerned and are recommending Westpac's shares as a buy.
As for dividends, Citi is expecting Westpac to pay fully franked dividends per share of $1.23 in FY 2022 and $1.55 in FY 2023. Based on the current Westpac share price of $19.75, this will mean yields of 6.2% and 7.8%, respectively, over the next two years.
Citi also sees huge upside potential for the bank's shares with its price target of $29.50.
