If you're looking for dividend shares to buy, then you may want to check out the two listed below.
These ASX dividend shares are ones that Morgans rates among the best on the market this month. Here's what the broker is saying about them:
Dalrymple Bay Infrastructure Ltd (ASX: DBI)
The first ASX dividend share to look at is this coal terminal operator.
Morgans is very positive on the company and is expecting big dividend yields in the coming years. It commented:
DBI holds the 99 year lease to the 85 Mtpa Dalrymple Bay Coal Terminal, of which c.80% of throughput is metallurgical coal (used in steelmaking). DBCT offers the cheapest export route-to-market for users within its Bowen Basin catchment region. DBCT is fully contracted from 2023 to 2028. In the current low interest rate environment, income-oriented investors will be attracted to DBI's high cash yield and commitment to 1-2% [now 3% to 7%] pa DPS growth
As for dividends, Morgans is forecasting dividends per share of 21 cents in FY 2022 and 21.5 cents in FY 2023. Based on the latest Dalrymple Bay Infrastructure share price of $2.49, this will mean yields of 8.4% and 8.6%, respectively.
The broker currently has an add rating and $2.67 price target on the company's shares.
Jumbo Interactive Ltd (ASX: JIN)
Another ASX dividend share that Morgans rates as a buy is Jumbo Interactive. It is the company behind the OzLotteries website/app and the Powered by Jumbo software-as-a-service (SaaS) platform.
Morgans is positive on the company's outlook. In fact, it is forecasting an earnings per share compound annual growth rate of 20.8% over the next two years. It said:
We believe JIN offers excellent strategic growth opportunities, both in Australia and overseas, supported by a steadily expanding domestic market for digital lottery retailing. The business is cash generative and has a low requirement for ongoing capex. Lottery sales are resilient to economic cyclicality. They do not represent a large proportion of the personal budgets, hovering around 0.5% of household discretionary income in Australia.
In respect to dividends, the broker is forecasting fully franked dividends per share of 47 cents in FY 2023 and 57 cents in FY 2024. Based on the latest Jumbo share price of $12.75, this will mean yields of 3.7% and 4.5%, respectively.
Morgans has an add rating and $17.50 price target on the company's shares
