If you're looking for dividends, then look no further!
Listed below are a couple of ASX dividend giants that could be top options right now. Here's what you need to know:
Rio Tinto Ltd (ASX: RIO)
The first ASX dividend stock that could be a buy is Rio Tinto. It is of course one of the world's leading miners and the owner of a collection of world class operations across a number of commodities and geographies.
Goldman Sachs is positive on the miner. This is due partly to the mining giant's "compelling relative valuation vs. peers (0.9xNAV vs. BHP 1.05xNAV and FMG 1.5xNAV), [and] strong FCF and Div yield with our bullish view on iron ore, aluminium and copper prices."
In respect to dividends, the broker is expecting Rio Tinto to be able to pay fully franked dividends per share of US$5.36 (A$8.10) in FY 2023 and then US$4.68 (A$7.07) in FY 2024. Based on the latest Rio Tinto share price of $107.35, this will mean yields of 7.55% and 6.6%, respectively.
Goldman also sees plenty of upside for its shares with its conviction buy rating and $136.20 price target.
Telstra Group Ltd (ASX: TLS)
Another ASX dividend stock for income investors to look at is telco giant, Telstra.
A recent note out of Morgans reveals that its analysts are very positive on the telco giant.
In fact, they have the company on their best ideas list due to its much-improved outlook and opportunities to unlock value through asset sales.
As for dividends, the broker is forecasting 17 cents per share fully franked dividends in both FY 2023 and FY 2024. Based on the current Telstra share price of $4.35, this will mean yields of 3.9% for investors.
Morgans currently has an add rating and $4.70 price target on Telstra's shares.
