The good news for income investors is that the Australian share market is home to plenty of dividend shares. This makes it a great place to generate passive income.
But which ASX dividend shares could be good options right now?
Three that brokers rate as buys are named below:
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Rural Funds Group (ASX: RFF)
Rural Funds could be an ASX dividend share to buy. It is an agricultural property company with a high-quality portfolio of assets.
Bell Potter is positive on the company and has buy rating and a $2.20 price target on its shares.
As for dividends, the broker is expecting dividends per share of 11.7 cents in FY 2023 and FY 2024. Based on the current Rural Funds share price of $2, this will mean yields of 5.85%.
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 BCF, Macpac, Rebel, and Super Cheap Auto.
Morgans rates the retailer as a buy. It has an add rating and $14.20 on its shares.
As for income, the broker is expecting fully franked dividends per share of 71 cents in FY 2023 and then 62 cents in FY 2024. Based on the current Super Retail share price of $12.24, this will mean yields of 5.8% and 5%, respectively.
Transurban Group (ASX: TCL)
A final ASX dividend share that has been named as a buy is Transurban. It is one of the world's leading toll road operators with 22 roads across Australia and North America. It also has four projects under development or delivery.
Citi recently upgraded the company's shares to a buy rating and put a $16.20 price target on them.
In respect to dividends, its analysts are forecasting dividends per share of 58 cents in FY 2023 and then 62 cents in FY 2024. Based on the current Transurban share price of $13.92, this will mean yields of 4.15% and 4.45%, respectively.
