Analysts say these top ASX dividend shares are buys

Here are two top dividend shares analysts say are buys…

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

If you're searching for dividend shares to buy, then the two listed below could be worth considering.

Analysts have recently given the thumbs up to these dividend shares and are predicting attractive yields in the coming years. Here's what you need to know about them:

A woman has a thoughtful look on her face as she studies a fan of Australian 20 dollar bills she is holding on one hand while he rest her other hand on her chin in thought.

Image source: Getty Images

Accent Group Ltd (ASX: AX1)

The first ASX dividend share that has been tipped as a buy is Accent. It is the owner of a growing portfolio of footwear focused store brands including Athlete's Foot, HYPEDC, Pivot, Platypus, Sneaker Lab, and Stylerunner.

It has been a difficult year for Accent due to lockdowns, rising living costs, and softer consumer spending. While this is disappointing, the team at Bell Potter remain positive and see its share price weakness as a buying opportunity.

This is due to the company's "dominant market share in the Australian footwear retailing industry and growth outlook in the youth focused sports apparel."

The broker currently has a buy rating and $1.90 price target on the company's shares.

In respect to dividends, Bell Potter has pencilled in a fully franked dividend 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 $1.43, this will mean yields of 4% and 6.3%, respectively.

Elders Ltd (ASX: ELD)

Another ASX dividend share that has been tipped as a buy is agribusiness company Elders.

Unlike Accent, it has been in sensational form again in FY 2022. During the first half, the company reported an 80% increase in earnings before interest and tax to $132.8 million.

And while its growth is expected to moderate now, the team at Goldman Sachs remains very positive on the investment opportunity here. This is due to its "strong track record; good industry structure; potential for positive earnings surprise; and an attractive valuation."

Goldman Sachs has a buy rating and $21.00 price target on its shares.

As for dividends, Goldman is forecasting dividends per share of 50 cents in FY 2022 and 53 cents in FY 2023. Based on the current Elders share price of $12.31, this implies attractive yields of 4.1% and 4.3%, 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 recommended Accent Group and Elders Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

A businesswoman in a suit and holding a briefcase marches higher as she steps from one stack of coins to the next.
Dividend Investing

These ASX dividend shares keep giving investors a pay rise

These stocks have an incredible track record of consistent dividend growth.

Read more »

Man holding Australian dollar notes, symbolising dividends.
Dividend Investing

3 excellent ASX dividend shares for income investors to buy now

Brokers are positive on these shares and have named them as buys.

Read more »

A man holding a paper bag full of food items looks in shocked dismay at his supermarket docket as if high prices have taken him by surprise.
Consumer Staples & Discretionary Shares

Buying Coles shares? Here's the dividend yield you'll get today

Does Coles measure up as an income stock?

Read more »

Dividend Investing

Brokers name 2 ASX dividend shares to buy

These shares are expected to offer 4.6% to 7% dividend yields.

Read more »

Excited woman holding out $100 notes, symbolising dividends.
Dividend Investing

1 ASX dividend stock down 50% I'd buy right now

This could be a great time to invest for income and a turnaround.

Read more »

Accountant woman counting an Australian money and using calculator for calculating dividend yield.
Dividend Investing

2 ASX stocks that have continually raised dividends for 10+ years

They may not have the highest dividend yield around, but these ASX stocks have a strong track record of consistent…

Read more »

Person holding Australian dollar notes, symbolising dividends.
Dividend Investing

4 ASX shares that pay a monthly dividend to shareholders

These ASX shares pay dividends to their shareholders every single month.

Read more »

ASX dividend share investor throwing $50 notes in the air and laughing
Dividend Investing

How to build a passive income stream for life with ASX shares

This strategy could help build a source of regular income from the share market.

Read more »