Are you wanting to add some dividend shares to your portfolio this week? If you are, then the two listed below could be worth checking out.
Both have recently been named as buys by analysts and tipped to provide good yields.
Here's what you need to know about these dividend shares:
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Coles Group Ltd (ASX: COL)
The first ASX dividend share that has been named as a buy is supermarket giant Coles.
The team at Citi was pleased with its half-year results, which came in well ahead of its estimates. In light of this positive form and its attractive valuation, the broker believes Coles is a great option right now. It commented:
Trading on 22.5x FY24F PE and 3.6% yield, we continue to see COL as offering good value with the Coles reported 1H23 EBIT from continuing operations of $1,058 million, ~6% ahead of Citi and consensus. Steven Cain leaves the business in good shape and we see Leah Weckert as the natural successor. Sales momentum has improved, owing somewhat to easier comps. Considering the historical 1H/2H skew of earnings, there appears to be upside to FY23e consensus EBIT.
As for dividends, the broker is forecasting fully franked dividends per share of 69 cents in FY 2023 and 71 cents FY 2024. Based on the current Coles share price of $17.68, this represents yields of 3.9% and 4%, respectively.
Citi has a buy rating and $20.20 price target on its shares.
Dexus Industria REIT (ASX: DXI)
Another ASX dividend share that has been named as a buy is Dexus Industria.
Morgans is a big fan of this industrial and office property company. This is due to its belief that the company is well-placed for growth thanks to strong demand in the industrial market. It commented:
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.
As for dividends, the broker is forecasting dividends per share of 16.5 cents in FY 2023 and 16.8 cents in FY 2024. Based on the current Dexus Industria share price of $2.88, this will mean yields of 5.7% and 5.8%, respectively.
Morgans currently has an add rating and $3.37 price target on the company's shares.
