If you're looking for an income boost, then look no further than the ASX dividend shares listed below.
Both of these dividend shares have been tipped to climb higher from current levels and pay big dividends.
Here's what you need to know about these high yield shares:
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Charter Hall Long WALE REIT (ASX: CLW)
The first high yield ASX dividend share to consider is the Charter Hall Long Wale REIT.
As you might have guessed from its name, this Charter Hall operated property company has a focus on assets with long weighted average lease expiries (WALE). And when I say long, I mean long. At the last count, it had a WALE of approximately 12 years. Combined with its 99.9% occupancy rate, this bodes well for the future.
Citi is positive on the company due to its low risk income stream, long leases, high occupancy rate, and inflation-linked rental increases.
The broker expects this to underpin 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 $4.61, this will mean yields of 6.1% and 6.3%, respectively.
Citi currently has a buy rating and $5.00 price target on its shares.
Rio Tinto Ltd (ASX: RIO)
If you're not averse to investing in the resources sector, then it could be worth considering this ASX 200 mining share. Particularly given how Goldman Sachs expects the mining giant to pay some very big dividends in the near term.
Goldman Sachs also likes Rio Tinto due to its "compelling valuation" and "return to production growth in 2023." In addition, it sees "potential for FCF/t improvement in the Pilbara over the medium term driven by Rhodes Ridges."
The broker is expecting this to underpin dividends per share of US$4.26 in FY 2023 and then US$5.60 in FY 2024. Based on current exchange rates and the latest Rio Tinto share price of $124.85, this will mean yields of 5% and 6.5%, respectively.
Goldman Sachs has a buy rating and lifting its price target to $132.00.
