Analysts say these high yield ASX dividend shares are buys

These ASX shares are expected to make it rain dividends for their shareholders.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

If you're looking for high-yield ASX dividend shares to buy, then you may want to check out the two listed below that analysts currently rate as buys.

Here's why they believe these are top options for income investors right now:

Australian dollar notes rolled into bundles.

Image source: Getty Images

Charter Hall Long WALE REIT (ASX: CLW)

The first high-yield ASX dividend share that has been tipped as a buy is the Charter Hall Long Wale REIT.

It is a property company with a focus on in-demand assets with very long leases. At the last count, its weighted average lease expiry (WALE) stood at approximately 12 years.

Ord Minnett is positive on the company and is forecasting some big dividend yields in the near term. Its analysts have pencilled in dividends per share of 28 cents in FY 2023 and then 28.8 cents in FY 2024. Based on its current share price of $4, this will mean yields of 7% and 7.2%, respectively.

The broker currently has a buy rating and a $4.89 price target on its shares.

Super Retail Group Ltd (ASX: SUL)

Another high-yield ASX dividend share that has been tipped as a buy is Super Retail. It is the retailer behind brands such as Macpac, Rebel, and Super Cheap Auto.

Citi is very positive on the company even in the current environment. This is due to its strong market position and the low cyclicality of key categories. It explains:

Overall, we think Super Retail is in a very solid position to manage the slowdown in the consumer environment given its excellent market positions in Auto and Sports and relatively low cyclicality of these categories.

As for dividends, Citi is forecasting fully franked dividends per share of 77 cents in FY 2023 and then 72 cents in FY 2024. Based on the latest Super Retail share price of $10.76, this will mean generous yields of 7.15% and 6.7%, respectively.

Citi currently has a buy rating and a $14.50 price target on its shares.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Super Retail Group. The Motley Fool Australia has positions in and has recommended Super Retail Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

A woman standing in a blue shirt smiles as she uses her mobile phone.
Dividend Investing

The ASX shares I'd buy for passive income in April and beyond

I think passive income is not just about yield. It is about building a reliable stream of dividends over time.

Read more »

Two people climb to the summit and raise their arms in success as the sun rises brightly over the mountains.
Dividend Investing

2 ASX dividend shares yielding 7% or more

If you're looking for dividend shares which pay around 7%, these are two of my picks.

Read more »

Australian dollar notes in the pocket of a man's jeans, symbolising dividends.
Broker Notes

Why this quality ASX dividend share is tipped to surge 55%

A leading broker expects this ASX stock could rocket 55% atop paying two annual dividends.

Read more »

Happy dad watching tv with kids, symbolising passive income.
Dividend Investing

3 ASX dividend shares I'd buy for reliable passive income

I think building income from ASX shares starts with choosing the right types of businesses.

Read more »

A mature aged man with grey hair and glasses holds a fan of Australian hundred dollar bills up against his mouth and looks skywards with his eyes as though he is thinking what he might do with the cash.
Dividend Investing

Is this one of the best ASX passive income stocks to buy right now?

This business is paying a great level of income…

Read more »

Hand of a woman carrying a bag of money, representing the concept of saving money or earning dividends.
Dividend Investing

1 ASX dividend stock down 43% I'd buy right now

This business is a leading idea for passive income!

Read more »

Australian notes and coins symbolising dividends.
Dividend Investing

$1,000 buys 100 shares in an incredibly reliable ASX 200 dividend stock

This business has been very resilient and still looks like a great buy.

Read more »

Woman holding $50 notes with a delighted face.
Dividend Investing

Why this ASX dividend share is a retiree's dream

This stock can offer investors everything they want in retirement.

Read more »