Fortunately for income investors, the ASX is home to plenty of dividend-paying shares. This makes the share market a great place to generate passive income.
But which ASX dividend stocks could be good options right now for an income boost? Two that have recently been rated as buys are named below:
Stockland Corporation Ltd (ASX: SGP)
The first ASX dividend stock that could be a buy is Stockland.
It is a residential and land lease developer and retail, logistics, and office real estate property manager.
Citi is a fan of Stockland and feels the market is being too negative on its outlook. Particularly given its belief that property prices won't fall as much as feared.
In addition, the broker is forecasting big yields from its shares. Citi expects dividends per share of 26.2 cents in FY 2023 and 26.6 cents in FY 2024. Based on the current Stockland share price of $4.08, this will mean sizeable yields of 6.4% and 6.5%, respectively.
The broker currently has a buy rating and a $4.60 price target on its shares.
Universal Store Holdings Ltd (ASX: UNI)
Another ASX dividend stock to buy could be Universal Store. It is the youth fashion retailer behind the Perfect Stranger, Thrills, and Universal Store brands.
Its shares have come under pressure this year after a trading update revealed that demand has been softening due to the cost of living crisis. The team at Morgans appears to believe that this has created a buying opportunity for investors. Especially given its very attractive valuation and big dividend yield.
In respect to the latter, the broker is forecasting fully franked dividends per share of 27 cents in FY 2023 and FY 2024. Based on the current Universal Store of $3.19, this will mean yields of 8.45% in both years.
Morgans has an add rating and a $4.20 price target on its shares.
