If you're looking for ASX dividend shares to buy next week, then the two listed below could be worth considering.
Here's what you need to know about these dividend shares:
Coles Group Ltd (ASX: COL)
The first ASX dividend share for income investors to consider buying next week is Coles. It is of course one of Australia's big two supermarket operators along with Woolworths Group Ltd (ASX: WOW).
Coles could be a good option for investors in the current environment. This is due to its defensive qualities and positive exposure to inflation. Particularly given how during the third quarter there were "no observable signs of trading down or lower volumes in response to higher food inflation," according to analysts at Citi.
In light of this, its analysts have put a buy rating and $19.30 price target on the company's shares.
As for dividends, Citi is expecting fully franked dividends of 63 cents per share in FY 2022 and 72 cents per share in FY 2023. Based on the latest Coles share price of $17.84, this will mean yields of 3.5% and 4%, respectively.
Wesfarmers Ltd (ASX: WES)
Another ASX dividend share to consider is Coles' former parent, Wesfarmers. It may have divested Coles but it held onto some other high quality brands such as Kmart, Officeworks, and Bunnings.
The team at Morgans is very positive on the company even as cost of living pressures increase. It highlights that "management was confident in WES's ability to navigate through a more cautious consumer environment." Morgans also believes that "Kmart can benefit as customers focus on value."
As a result, the broker has put an add rating and $58.40 price target on the company's shares.
In respect to dividends, Morgans is forecasting fully franked dividends per share of $1.65 in FY 2022 and $1.81 in FY 2023. Based on the current Wesfarmers share price of $42.15, this will mean yields of 3.9% and 4.3%, respectively.
