Are you looking for dividend shares to buy this week? 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 today:
Image source: Getty Images
Pilbara Minerals Ltd (ASX: PLS)
The first ASX dividend share to look at is one of the world's largest lithium miners, Pilbara Minerals.
While the majority of lithium shares on the Australian share market aren't even producing the battery making ingredient yet, let alone generating profits, Pilbara Minerals is an exception. It is generating huge profits from its lithium operations right now.
And while lithium prices are falling and will weigh on these profits in 2024, brokers still expect some big dividends to be paid.
For example, Macquarie is expecting the miner to be in a position to reward shareholders with a 45 cents per share dividend in FY 2023 and then a 34 cents per share dividend in FY 2024. Based on the current Pilbara Minerals share price of $3.48, this will mean yields of 12.9% and 9.8%, respectively.
Macquarie also sees material upside for its shares with its outperform rating and $7.70 price target.
Rural Funds Group (ASX: RFF)
Another ASX dividend share for income investors to look at is Rural Funds.
This agricultural focused real estate investment trust owns a high quality portfolio of in-demand, long-lease assets across a range of agricultural industries. This includes almond and macadamia orchards, premium vineyards, water entitlements, cropping and cattle farms.
The team at Bell Potter is positive on the company and is expecting some generous yields 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 $2.05, this represents yields of 5.7% and 5.95%, respectively.
Bell Potter has a buy rating and $2.65 price target on its shares.
