Analysts name 2 excellent ASX dividend shares for income investors to buy

Here are a couple of top dividend shares analysts say are buys…

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A female broker in a red jacket whispers in the ear of a man who has a surprised look on his face as she explains which two ASX 200 shares should do well in today's volatile climate

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Are you looking for dividend shares to add to your income portfolio? If you are, then the two listed below could be top options.

Analysts have rated these dividend shares as buys and tipped them to provide income investors with attractive yields in the coming years. Here’s what you need to know about them:

Charter Hall Social Infrastructure REIT (ASX: CQE)

The first ASX dividend share that could be in the buy zone for income investors is the Charter Hall Social Infrastructure REIT.

This real estate investment trust owns a growing portfolio of social infrastructure properties. These are properties that provide social and community services. Its main focus, however, is on education, with the company currently Australia’s largest owner of early learning centres.

This focus is creating results. The team at Goldman Sachs highlights the company’ solid like for like rental growth, 100% occupancy rate, and a weighted average lease expiry of 14.6 years.

Goldman currently has a conviction buy rating and $4.24 price target on its shares and is forecasting dividends per share of 17.2 cents in FY 2022 and 18.3 cents in FY 2023. Based on its current share price of $3.58, this implies yields of 4.8% and 5.1%, respectively.

Wesfarmers Ltd (ASX: WES)

Another ASX dividend share that could be in the buy zone is Wesfarmers. It is the conglomerate behind a range of businesses such as Bunnings, Catch, Covalent Lithium, Kmart, Officeworks, and Priceline.

Although inflation and rising living costs are likely to be putting pressure on its retail businesses, the Wesfarmers Chemicals, Energy and Fertilisers (WCEF) business has been tipped to deliver a very strong result in FY 2022.

Analysts at Morgans remains very positive on the company. Its analysts actually appear optimistic the company will be able to navigate the tough retail environment due to its value offering. In light of this, the broker has an add rating and $58.40 price target on its shares.

As for 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 $44.15, this will mean yields of 3.7% and 4.1%, respectively.

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 Wesfarmers 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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