Are you wanting to boost your passive income with some ASX dividend shares?
If you are, then you may want to check out the two shares listed below that have been named as buys and tipped to provide generous yields.
Here's what you need to know about them:
Baby Bunting Group Ltd (ASX: BBN)
The first ASX dividend share that has been named as a buy is Baby Bunting.
It is Australia's largest baby products retailer with a growing network of superstores across the country.
Like many retailers, trading conditions have been tough for the company in FY 2023. However, the team at Morgans believes investors should take advantage of recent share price weakness.
Its analysts believe that Baby Bunting's margin pressures in FY 2023 are transitory and points out its "compelling opportunities to grow its share of a growing market."
As for dividends, Morgans is forecasting fully franked dividends per share of 14 cents in FY 2023 and then 16 cents in FY 2024. Based on the current Baby Bunting share price of $2.75, this will mean yields of 5.1% and 5.8%, respectively.
Morgans has an add rating and $3.60 price target on its shares.
Charter Hall Social Infrastructure REIT (ASX: CQE)
Another ASX dividend share that has been named as a buy is Charter Hall Social Infrastructure REIT.
Similar to Baby Bunting, this property company has exposure to the little side of the market as one of the biggest owners of childcare centres in Australia. In addition, it owns other social infrastructure properties such as bus depots and police and justice services facilities.
Goldman Sachs is a fan of the company. It commented that "despite the challenging macroeconomic backdrop, childcare fundamentals are solid, and we remain attracted to CQE's resilient underlying cash flows."
Goldman is expecting this to underpin dividends of 17.2 cents per share in in FY 2023 and then 18 cents per share in FY 2024. Based on the current Charter Hall Social Infrastructure REIT unit price of $3.31, this will mean yields of 5.2% and 5.4%, respectively.
The broker has a conviction buy rating and $4.13 price target on its shares.
