If you're looking for dividend shares to buy when the market reopens, then the two listed below could be worth a look.
Both have been named as buys by experts recently and tipped to provide attractive yields. Here's why they are bullish on them:
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Macquarie Group Ltd (ASX: MQG)
The first ASX dividend share that could be in the buy zone is this investment bank.
Morgans is a fan and spoke very positively about the company following its recent quarterly update. It said:
MQG is a quality franchise, exposed to structural growth areas, and the company has performed exceptionally well in a more difficult FY23 environment. MQG has also consistently delivered attractive returns over time (~15% average ROE) and with >10% share price upside to our price target (A$214), we maintain our ADD recommendation.
Morgans has an add rating and $214.51 price target on the company's shares.
In respect to dividends, the broker is expecting partially franked dividends of $7.41 per share in FY 2023 and $7.13 per share in FY 2024. Based on the current Macquarie share price of $189.00, this will mean yields of 3.9% and 3.8%, respectively.
Universal Store Holdings Ltd (ASX: UNI)
Another ASX dividend share that has been named as a buy is youth fashion retailer Universal Store.
Goldman Sachs recently named it as a key pick in the retail sector due to its exposure to younger consumers, which it expects to continue spending in 2023. The broker commented:
In addition to a strong outlook for Gen-Z spending, we see an opportunity for ongoing store roll-out for UNI which is the market leader in youth multi-brand apparel. Relative to youth footwear, the youth apparel category is under-penetrated in terms of store footprint; we forecast an additional 22 Universal stores will be rolled out in the next three years.
Goldman Sachs has a buy rating and $7.55 price target on its shares.
As for dividends, the broker is expecting fully franked dividends of 27 cents in FY 2023 and 31 cents in FY 2024. Based on the latest Universal Store share price of $5.45, this equates to yields of 5% and 5.7%, respectively.
