If you're searching for dividend shares to buy, then the two listed below could be worth looking at.
Both have been named as buys by analysts at Morgans and tipped to provide big yields. Here's what you need to know:
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Accent Group Ltd (ASX: AX1)
The first ASX dividend share that has been tipped as a buy by Morgans is footwear focused retailer Accent.
The broker currently has an add rating and $2.00 price target on its shares.
While FY 2022 was a difficult and disappointing year, the broker remains positive on the company's medium to long term outlook. This is thanks to its strong brand portfolio and expansion strategy. Morgans explained:
AX1's renewed focus on selling at full price will, in our view, support a recovery in the gross profit margin in FY23 back towards historical averages. We welcome AX1's moderation of the pace of its store rollout in favour of a more selective expansion strategy focused on return on investment. We see AX1 as undervalued at the current share price.
As for dividends, the broker is forecasting fully franked dividends of 9 cents per share in FY 2023 and 11 cents per share in FY 2024. Based on the current Accent share price of $1.32, this will mean yields of 6.8% and 8.3%, respectively.
Dexus Industria REIT (ASX: DXI)
Another ASX dividend share that Morgans rates as a buy is Dexus Industria. It is an industrial and office property company.
Morgans currently has an add rating and $3.25 price target on the company's shares. It commented:
DXI's key industrial markets remain robust with the outlook for solid rental growth backed by strong tenant demand. The development pipeline also provides near and medium term upside potential. A key focus will be the leasing up of the business park assets and a potential divestment could be a positive catalyst. While the portfolio remains well positioned we acknowledge there will be near-term uncertainty around interest rates.
In respect to dividends, the broker is forecasting dividends per share of 16.4 cents in FY 2023 and 16.9 cents in FY 2024. Based on the current Dexus Industria share price of $2.50, this will mean yields of 6.6% and 6.8%, respectively.
