These ASX dividend shares have been tipped as buys by analysts

Income investors might want to check out these dividend shares…

| More on:
excited young female in business attire and wearing glasses is holding up $100 notes in both hands.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

If you are looking to boost your income with some dividend shares, then two listed below could be worth a closer look.

Both of these dividend shares have been named as buys and tipped to provide attractive yields for income investors. Here's what you need to know about them:

Harvey Norman Holdings Limited (ASX: HVN)

The first ASX dividend share that could be in the buy zone is fellow retailer Harvey Norman.

Analysts at Goldman Sachs are positive on the company and have named it as a buy with a $4.80 price target.

The broker continues to believe that Harvey Norman is well-placed to defend its strong market position from online disruption thanks to its favourable customer demographics.

It expects this to support stronger than consensus earnings in FY 2023, which it feels means that Harvey Norman's shares are trading at an "attractive valuation."

As for dividends, Goldman is forecasting fully franked dividends per share of 38 cents in FY 2023 and 32 cents in FY 2024. Based on the current Harvey Norman share price of $4.38, this will mean yields of 8.7% and 7.3%, respectively.

Macquarie Group Ltd (ASX: MQG)

Another ASX dividend share that could be in the buy zone is investment bank Macquarie.

The team at Morgan Stanley is positive on Macquarie and has an overweight rating and $215.00 price target on the company's shares.

The broker likes Macquarie due to its commodities exposure. Macquarie expects the company to benefit from volatility in commodities markets and believes it will be supportive of its earnings and dividends

Speaking of which, the broker is expecting partially franked dividends of $5.60 per share in FY 2023 and $6.05 per share in FY 2024. Based on the current Macquarie share price of $179.28, this will mean yields of 3.1% and 3.4%, respectively.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Harvey Norman. The Motley Fool Australia has positions in and has recommended Harvey Norman. The Motley Fool Australia has recommended Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

A female coal miner wearing a white hardhat and orange high-vis vest holds a lump of coal and smiles as the Whitehaven Coal share price rises today
Dividend Investing

Invest $10,000 in New Hope shares and get $1,006 in passive income

Many ASX investors buy New Hope shares for their high yielding, fully franked dividends.

Read more »

A man in a suit looks serious while discussing business dealings with a couple as they sit around a computer at a desk in a bank home lending scenario.
Dividend Investing

Forget term deposits and buy these ASX 200 dividend shares

Analysts have good things to say about these dividend options.

Read more »

An Australian farmer wearing a beaten-up akubra hat and work shirt leans on a fence with livestock in the background and a blue sky above.
REITs

Should you buy this ASX REIT for its 6% dividend yield?

This expert is telling investors to take advantage of a 6% yield...

Read more »

A happy construction worker or miner holds a fistfull of Australian money, indicating a dividends windfall
Dividend Investing

Here's the BHP dividend forecast through to 2028

Will the Big Australian continue to reward shareholders with big dividends?

Read more »

A man holding a cup of coffee puts his thumb up and smiles while at laptop.
Dividend Investing

Analysts say these ASX 200 dividend stocks are best buys in April

What are analysts saying about these high quality companies?

Read more »

A man in a business suit whose face isn't shown hands over two australian hundred dollar notes from a pile of notes in his other hand to an outstretched hand of another person.
Dividend Investing

Buy these ASX dividend shares for income

Analysts have put buy ratings on these income stocks.

Read more »

footwear asx share price on watch represented by look holding shoe and looking intently
Consumer Staples & Discretionary Shares

Does this ASX 300 retail stock really have a 7.6% dividend yield right now?

Is a 7.67% dividend yield too good to be true?

Read more »

A man in his office leans back in his chair with his hands behind his head looking out his window at the city, sitting back and relaxed, confident in his ASX share investments for the long term.
Dividend Investing

Brokers say these ASX 300 dividend stocks are top buys

Attractive dividend yields could be on offer with these shares.

Read more »