If you're an income investor looking for dividends to boost your income, then you may want to look at the ASX shares listed below that currently feature on Morgans' best ideas list.
Here's what you need to know about these shares:
Dexus Industria REIT (ASX: DXI)
The first ASX dividend share that Morgans has on its best ideas list is Dexus Industria. It is an industrial and office property company that owns a collection of high quality assets.
Morgans feels that Dexus Industria is well-placed for growth thanks to strong demand in the industrial market and its development pipeline. It said:
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 16.4 cents in FY 2023 and 16.9 cents in FY 2024. Based on the current Dexus Industria share price of $2.82, this will mean yields of 5.8% and 5.9%, respectively.
Morgans currently has an add rating and $3.25 price target on the company's shares.
GQG Partners Inc (ASX: GQG)
Another ASX dividend share that Morgans is a fan of is fund manager GQG Partners.
The broker has GQG's shares on its best ideas list right now due to their attractive valuation, strong fund performance, and diversified earnings. It explained:
GQG's strong relative investment outperformance through the current market weakness should solidify the near-term flows outflow. GQG has diversified earnings (by strategy and clients); solid performance track-record; and ongoing growth prospects. In our view, the current ~12x PE (versus a sector med-term average of ~16x) is attractive.
Morgans is also forecasting some very big yields in the near term. It expects dividends per share of 11.4 cents in FY 2023 and then 12.6 cents in FY 2024. Based on the current GQG share price of $1.40, this will mean 8.1% and 9% yields, respectively.
The broker has an add rating and $1.93 price target on its shares.
