If you're looking to boost your income with some dividend shares, then you may want to consider the two listed below.
Both dividend shares are rated as buys by Morgans and expected to provide investors with attractive yields in the near term. Here's what you need to know about them:
Coles Group Ltd (ASX: COL)
The first ASX dividend share that has been tipped as a buy is Coles.
It is one of Australia's most recognisable brands and the operator over 800 supermarkets and over 900 liquor retail stores.
Morgans is positive on the company's outlook and has an add rating and $19.50 price target on its shares. It said:
We continue to see COL as offering good value with the company's solid balance sheet and defensive characteristics putting it in a good position to navigate through a weaker economic environment. The unwinding of local shopping should also help further market share gains.
As for dividends, the broker is expecting fully franked dividends per share of 64 cents in FY 2023 and 66 cents in FY 2024. Based on the current Coles share price of $17.35, this implies yields of 3.6% and 3.8%, respectively.
Dexus Industria REIT (ASX: DXI)
Another ASX dividend share to consider buying is Dexus Industria.
It is a listed Australian real estate investment trust which owns, manages and develops high-quality industrial properties and business parks. This includes the Jandakot Airport industrial precinct.
Morgans is a fan of Dexus Industria and has an add rating and $3.25 price target on the industrial property company's shares. It likes the company due to its exposure to key industrial markets. It explained:
DXI's key industrial markets remain robust with the outlook for solid rental growth backed by strong tenant demand. The development pipeline also provides near and medium term upside potential. A key focus will be the leasing up of the business park assets and a potential divestment could be a positive catalyst. While the portfolio remains well positioned, we acknowledge there will be near-term uncertainty around interest rates.
In respect to dividends, Morgans is forecasting dividends per share of 16.4 cents in FY 2023 and 16.9 cents in FY 2024. Based on the current Dexus Industria share price of $3.08, this will mean yields of 5.3% and 5.5%, respectively.
