If you’re looking for ASX dividend shares to buy, then the two listed below could be worth considering.
Here’s what you need to know about these dividend shares:
Accent Group Ltd (ASX: AX1)
The first ASX dividend share to look at is this footwear focused retailer.
Accent, which owns a growing collection of store brands such as Athlete’s Foot, HYPEDC, Platypus, Sneaker Lab, and Stylerunner, is having a tough time in FY 2022. This has led to its shares being hammered since the start of the year.
While this is disappointing, the team at Bell Potter appear to believe this could be a buying opportunity. They recently put a buy rating and $1.90 price target on the retailer’s shares. The broker commented:
We rate AX1 Buy with a PT of $1.90. AX1’s strategic focus has moved from acquisition and integration, to innovation in its core business and expansion through new concepts. AX1 has a leading omni-channel capability with TAF, Platypus, Skechers, Hype, The Trybe, Stylerunner and Glue Store as its key retail footwear or youth apparel platforms. Through a “high service & more tailored” market position, AX1 seeks to achieve greater differentiation vs peers as well as create perceived value across its retail platforms.
As for dividends, Bell Potter is forecasting fully franked dividends of 5.7 cents per share in FY 2022 and then 9 cents per share in FY 2023. Based on the current Accent share price of $1.33, this will mean yields of 4.3% and 6.8%, respectively.
QBE Insurance Group Ltd (ASX: QBE)
Another ASX dividend share that could be in the buy zone is QBE.
After a difficult period, this insurance giant’s outlook is starting to look very positive again, This is thanks to rising rates, premium increases, and its cost cutting plans.
Morgans is very positive on QBE and recently retained its add rating and $14.76 price target on the company’s shares. It commented:
With strong rate increases still flowing through QBE’s insurance book, and further cost-out benefits to come, we expect QBE’s earnings profile to improve strongly over the next few years. The stock also has a robust balance sheet and remains relatively inexpensive overall trading on ~9.1x FY23F PE.
In respect to dividends, the broker is forecasting 41.6 cents per share in FY 2022 and 66.6 cents per share in FY 2023. Based on the current QBE share price of $11.76, this will mean yields of 3.5% and 5.7%, respectively.