2 ASX dividend shares that analysts are tipping as buys in July

Here are a couple of dividend shares brokers rate as buys…

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Earlier today the Reserve Bank increased the cash rate by 50 basis points to 1.35%. While this is looking a lot more attractive to income investors, it is still a long way from the yields you'll get from the buy-rated ASX dividend shares listed below.

Here's what income investors need to know about these dividend shares:

Charter Hall Long WALE REIT (ASX: CLW)

The first ASX dividend share that analysts rate highly is the Charter Hall Long Wale REIT.

It is a property company that invests in high quality real estate assets that are leased predominantly to corporate and government tenants on very long term leases (hence its name).

Citi is a fan of the company due to its defensive qualities and has a buy rating and $5.71 price target on its shares. It explained that "we retain our Buy rating, given the appeal of secure income in uncertain times, the >6% dividend yield, and upside to FY22 guidance."

In respect to dividends, the broker is forecasting dividends per share of 31 cents in FY 2022 and FY 2023. Based on the current Charter Hall Long Wale REIT share price of $4.37, this will mean yields of ~7.1%.

Telstra Corporation Ltd (ASX: TLS)

Another ASX dividend share that has been rated as a buy by analysts is Telstra.

A number of brokers are feeling bullish on Telstra due to its much-improved outlook thanks to the successful execution of its transformative T22 strategy.

In addition, Telstra expects the upcoming growth-focused T25 strategy to support mid-single digit underlying EBITDA and high-teens underlying earnings per share compound annual growth rates (CAGR) from FY21 to FY25.

One of those bullish brokers is Morgans. It currently has an add rating and $4.56 price target on the company's shares. Its analysts have been pleased with its transformation and note that "under the hood it's looking good."

In addition, the broker continues to expect the telco to pay fully franked dividends per share of 16 cents for both FY 2022 and FY 2023. Based on the current Telstra share price of $3.89, this implies yields of 4.1%.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Telstra Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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