Are you looking for dividend shares to buy this month?
If you are, you may want to check out the two high-yield options listed below that have been named as buys.
Here's what you need to know about these ASX dividend shares:
Rural Funds Group (ASX: RFF)
The first ASX dividend share for income investors to look at is Rural Funds.
It is an agricultural focused real estate investment trust (REIT) that owns a high quality portfolio of in-demand, long-lease assets across a range of agricultural industries. These include almond and macadamia orchards, premium vineyards, water entitlements, cropping and cattle farms.
Bell Potter is positive on the company and has a buy rating and $2.65 price target on its shares. It also expects some above-average dividend yields from its shares in the coming years.
The broker is forecasting an 11.7 cents per share dividend in FY 2023 and then a 12.2 cents per share dividend in FY 2024. Based on the current Rural Funds share price of $2.16, this represents yields of 5.4% and 5.65%, respectively.
Westpac Banking Corp (ASX: WBC)
Westpac could be another ASX dividend share to buy according to analysts.
It is of course one of the big four banks and the owner of brands including Westpac, Bank SA, Bank of Melbourne, Rams, and St George.
Goldman Sachs believes Westpac is the best bank to buy right now. This is due to its belief that it can generate strong returns for investors thanks to its potential for solid earnings and dividend growth in the coming years. This is being supported by improving net interest margins and its bold cost cutting plans.
In fact, the broker is so positive on Australia's oldest bank that it has its shares on its conviction list with a buy rating and $27.74 price target.
In respect to dividends, the broker is forecasting fully franked dividends per share of 147 cents in FY 2023 and 156 cents in FY 2024. Based on the current Westpac share price of $21.76, this will mean yields of 6.8% and 7.2%, respectively.
