If you're on the lookout for passive income options, then the ASX dividend shares listed below could be worth considering.
Here's why these could be the dividend shares to buy right now:
Transurban Group (ASX: TCL)
The first ASX dividend share for income investors to look at buying is Transurban.
It manages and develops urban toll road networks in Australia and the United States. Its portfolio of important roads includes Citylink, Cross city tunnel, the Eastern Distributor, and AirportlinkM7.
The team at Citi believe it would be a great option for investors. Particularly in the current inflationary environment. Its analysts highlight that "CPI-linked increases come through with a delay indicating a strong growth path ahead."
The broker believes this will underpin a "c.6% p.a. DPS CAGR from FY23-FY26" and is forecasting dividends per share of 58 cents in FY 2023 and then 60 cents in FY 2024. Based on the current Transurban share price of $14.21, this will mean yields of 4.1% and 4.2%, respectively.
Citi has a buy rating and $16.00 price target on its shares.
Universal Store Holdings Ltd (ASX: UNI)
Another ASX dividend share for income investors to look at is Universal Store.
It is the youth fashion retailer behind the Universal Store, Thrills, and Perfect Stranger brands.
Morgans is a fan of the company due to its strong brands and exposure to younger consumers. The broker expects the latter to continue spending despite the tough economic environment.
It notes that there is a "general risk around a decline in consumer expenditure on discretionary categories like apparel, [but] we highlight that the youth demographic is likely to be more resilient."
In light of this, the broker believes Universal Store will be well-placed to pay fully franked dividends of 30 cents per share in FY 2023 and then 35 cents per share in FY 2024. Based on the latest Universal Store share price of $4.95, this will mean yields of 6% and then 7.1%.
Morgans has an add rating and $6.85 price target on its shares.
