The good news for investors is that there are a number of quality ASX dividend shares to choose from on the Australian share market to give your passive income a boost.
Two that have been tipped as buys are listed below. Here's what analysts are saying about them:
Charter Hall Long WALE REIT (ASX: CLW)
The first ASX dividend share that could be a buy for a passive income boost is the Charter Hall Long Wale REIT.
The Charter Hall Long Wale REIT is a property company with a focus on high quality real estate assets that are leased to corporate and government tenants on long term leases.
Analysts at Citi are positive on the company and have a buy rating and $5.00 price target on its shares.
Citi likes the REIT due to its "low risk income stream with c. 12 year WALE and 99.9% occupancy." The broker also highlights the company's significant discount to its net tangible assets.
Another positive is that Citi is expecting the Charter Hall Long Wale REIT to provide investors with some very big dividend yields in the near term.
Citi is forecasting dividends per share of 28 cents in FY 2023 and 29 cents in FY 2024. Based on the current Charter Hall Long Wale REIT share price of $4.55, this will mean yields of 6.15% and 6.4%, respectively.
Telstra Corporation Ltd (ASX: TLS)
Another ASX dividend share that could be a top option for income investors is Telstra.
The team at Morgans is positive on the telco giant and believes its shares are trading at an attractive level given its materially improved outlook and potential value-unlocking divestments.
In respect to the latter, the broker believes "TLS's high quality long life assets like InfraCo are worth substantially more" than the market is currently valuing them.
Its analysts appear to believe that this won't be the case for long and expect Telstra's recent restructure to help unlock their value. As a result, the broker has put an add rating and $4.60 price target on its shares.
In respect to dividends, Morgans is expecting Telstra to continue to pay fully franked 16.5 cents per share dividends in FY 2023 and FY 2024. Based on the current Telstra share price of $4.09, this equates to yields of 4%.
