If you're looking to boost your income portfolio, then you may want to look at the shares listed below.
Here's why these ASX dividend shares have been tipped as buys:
Dicker Data Ltd (ASX: DDR)
The first ASX dividend share to consider is Dicker Data. It is a leading technology hardware, software, and cloud distributor.
Over the last decade, the company has delivered consistently solid earnings and dividend growth thanks to its strong position in a market benefiting from a number of tailwinds. The good news is that this has continued in FY 2022, with the company reporting further solid sales and profit growth during the first half.
Morgan Stanley is positive on the company's outlook and is expecting this growth to continue. It currently has an overweight rating and $14.00 price target on its shares.
As for dividends, Morgan Stanley is forecasting fully franked dividends per share of 35.3 cents in FY 2022 and 40.5 cents in FY 2023. Based on the current Dicker Data share price of $10.55, this will mean yields of 3.4% and 3.8%, respectively.
HomeCo Daily Needs REIT (ASX: HDN)
Another ASX dividend share to consider is HomeCo Daily Needs. It is a property investment company with a focus on metro-located, convenience-based assets across neighbourhood retail, large format retail, and health and services.
Analysts at Goldman Sachs are very positive on the company's outlook due to the shift to omni channel retailing and additional external growth opportunities. The broker also believes its shares are undervalued at the current level given this positive outlook and its diversified tenant base.
Goldman currently has a buy rating and $1.57 price target on HomeCo Daily Needs' shares.
In respect to dividends, the broker is forecasting dividends of 8.3 cents per share in FY 2023 and 8.5 cents per share in FY 2024. Based on the current HomeCo Daily Needs REIT unit price of $1.26, this will mean big yields of 6.6% and 6.75%, respectively.
