If you're an income investor on the lookout for big dividends, then take a look at the two ASX shares listed.
Both of these ASX dividend shares have been tipped to provide investors with generous yields in the near term. Here's what they are saying about them:
Image source: Getty Images
Deterra Royalties Ltd (ASX: DRR)
The first high yield ASX dividend share for investors to consider is Deterra Royalties.
It is the owner of a portfolio of royalty assets across a range of commodities, primarily focused on bulks, base and battery metals.
One of the key royalty assets in its portfolio is the Mining Area C (MAC) iron ore operation which is operated by mining giant BHP Group Ltd (ASX: BHP). Another for the future is the Eneabba Project, owned by Sheffield Resources.
Citi is a fan of the company and has a buy rating and $4.70 price target on its shares.
As for dividends, it is expecting fully franked dividends per share of 26 cents in FY 2023 and 28 cents in FY 2024. Based on the current Deterra Royalties share price of $4.69, this will mean yields of 5.5% and 6%, respectively.
Stockland Corporation Ltd (ASX: SGP)
Another high yield ASX dividend share that has been named as a buy is Stockland.
It is a residential and land lease developer and retail, logistics and office real estate property manager.
While trading conditions are not easy at present, analysts at Goldman Sachs "believe the potential headwinds are factored into the share price and see SGP as attractively valued." The broker feels this is particularly the case given its recently refreshed corporate strategy and the sale of its low returning Retirement division.
Goldman has a buy rating and $4.40 price target on its shares.
In respect to dividends, its analysts are forecasting dividends per share of 27.6 cents in FY 2023 and 28.3 cents in FY 2024. Based on the current Stockland share price of $3.87, this will mean yields of 7.1% and 7.3%, respectively.
