If you're looking for options for your income portfolio, then you may want to check out the two ASX dividend shares listed below.
Here's what Morgans is saying about these income options right now:
Healthco Healthcare and Wellness REIT (ASX: HCW)
The first ASX dividend stock that could be a buy for income investors is the Healthco Healthcare and Wellness REIT.
It is a real estate investment trust that invests in hospitals, aged care, childcare, government, life sciences and research, and primary care and wellness properties.
The good thing about these assets are that they are all relatively defensive assets that should be in demand whatever is happening in the economy. This is a big positive in the current environment.
Morgans believes the company is well-placed to increase its dividend in the coming years. It is forecasting dividends per share of 7.4 cents in FY 2023 and 7.9 cents FY 2024. Based on the current Healthco Healthcare and Wellness REIT unit price of $1.44, this will mean yields of 5.1% and 5.5%, respectively.
Morgans has an add rating and $1.72 price target on them.
Wesfarmers Ltd (ASX: WES)
Another ASX dividend stock that has been named as a buy by Morgans is Wesfarmers.
It is of course the conglomerate behind a wide range of high-quality businesses such as Bunnings, Kmart, Priceline, and WesCEF.
Morgans believes the company could be positioned to continue its solid performance in the near term. This is thanks partly to its focus on value. The broker notes that "Kmart is well-placed to benefit [from the cost of living crisis] with the average price of an item at around $6-7."
As for dividends, its analysts are forecasting fully franked dividends per share of $1.79 in FY 2023 and $1.92 in FY 2023. Based on the current Wesfarmers share price of $48.02, this will mean yields of 3.7% and 4%, respectively.
Morgans has an add rating and $55.60 price target on Wesfarmers' shares.
