If you're an income investor on the lookout for new investment options, then you might want to check out the two ASX dividend shares listed below.
Both of these shares are buy-rated and expected to offer attractive dividend yields. Here's what you need to know:
QBE Insurance Group Ltd (ASX: QBE)
The team at Morgans thinks that this insurance giant could be an ASX dividend share to buy this month.
That's due to its attractive valuation and positive outlook thanks to cost outs and rate increases. It explains:
With strong rate increases still flowing through QBE's insurance book, and further cost-out benefits to come, we expect QBE's earnings profile to improve strongly over the next few years. The stock also has a robust balance sheet and remains relatively inexpensive overall trading on 8x FY24F PE.
As for dividends, Morgans is expecting dividends per share of approximately 80.4 cents in FY 2023 and 91 cents in FY 2024. Based on the current QBE share price of $15.91, this will mean yields of 5% and 5.7%, respectively.
The broker currently has an add rating and a $16.50 price target on its shares.
Super Retail Group Ltd (ASX: SUL)
Another ASX dividend share that could be a buy is Super Retail. It is the retail group behind popular brands such as Macpac, Rebel, and Super Cheap Auto.
Over at Bell Potter, its analysts are positive on the retailer. They believe the company is well-placed to navigate the tough consumer environment. The broker 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.
Bell Potter is expecting this to support fully franked dividends per share of 77 cents in FY 2023 and then 72 cents in FY 2024. Based on the current Super Retail share price of $11.90, this will mean yields of 6.5% and 6.1%, respectively.
The broker has a buy rating and a $14.50 price target on its shares.
