If you're looking for dividends shares to buy in March, then you may want to check out the two listed below.
Here's what you need to know about these buy-rated ASX dividend shares:
Jumbo Interactive Ltd (ASX: JIN)
The first ASX dividend share that could be in the buy zone is Jumbo Interactive. It is the company behind the OzLotteries website/app and the Powered by Jumbo software-as-a-service (SaaS) platform.
Morgans is a big fan of the company and, earlier this week, put an add rating and $16.50 pirce target on its shares following the release of its half-year results.
While the results were softer than it was expecting, the broker remains positive on the future and believes Jumbo is well-placed for growth in the coming years. It said:
We believe JIN offers excellent strategic growth opportunities, both in Australia and overseas, supported by a steadily expanding domestic market for digital lottery retailing. The business is cash generative and has a low requirement for ongoing capex.
As for dividends, Morgans is forecasting fully franked dividends per share of 43 cents in FY 2023 and 51 cents in FY 2024. Based on the latest Jumbo share price of $13.58, this will mean yields of 3.2% and 3.8%, respectively.
Mineral Resources Ltd (ASX: MIN)
Another ASX dividend share that brokers rate as a buy is Mineral Resources. It is a mining and mining services company with exposure to lithium and iron ore.
Bell Potter is positive on Mineral Resources and has a buy rating and $111.00 price target on its shares. The broker believes the company is well-placed for strong earnings and dividend growth in the coming years. It recently commented:
Over the next two years we forecast that as the business transformation is completed, MIN's growing production volumes, and improving margins, supported by strong commodity prices, will result in significant earnings growth.
In respect to dividends, Bell Potter is forecasting fully franked dividends of 388.7 cents per share in FY 2023 and 939.1 cents per share in FY 2024. Based on the current Mineral Resources share price of $82.56, this will mean yields of 4.7% and 11.4%, respectively.
