If you're looking for dividend shares to buy, then Morgans has you covered.
Listed below are two of the best ASX dividend shares to buy this month according to its analysts. Here's what they are saying:
Dalrymple Bay Infrastructure Ltd (ASX: DBI)
Morgans is a fan of this coal terminal operator and is expecting some big dividend yields from its shares in the coming years. The broker currently has an add rating and $2.67 price target on the company's shares.
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.
Its analysts are forecasting dividends per share of ~20 cents in FY 2022 and ~21 cents in FY 2023. Based on the latest Dalrymple Bay Infrastructure share price of $2.48, this will mean yields of 8% and 8.5%, respectively.
Macquarie Group Ltd (ASX: MQG)
Morgans thinks that this investment bank could be a top option for income investors. It currently has an add rating and $214.30 price target on its shares.
The broker likes Macquarie due to its exposure to long term structural growth markets. It commented:
We continue to like MQG's exposure to long-term structural growth areas such as infrastructure and renewables. The company also stands to benefit from recent market volatility through its trading businesses, while it continues to gain market share in Australian mortgages.
In respect to dividends, the broker is expecting partially franked dividends of $7.05 per share in FY 2023 and $7.36 per share in FY 2024. Based on the current Macquarie share price of $170.37, this implies yields of 4.1% and 4.3%, respectively.
