The share market is a great place to generate a source of income. That's because there are countless ASX shares that reward their shareholders with dividends every six months (and sometimes even more frequently).
In addition, as a company grows, often its dividend will grow along with it. This can lead to a growing stream of income without you having to lift a finger.
But which ASX dividend stocks could be top options right now? Brokers say the following shares are buys:
Accent Group Ltd (ASX: AX1)
The first ASX dividend stock that could be a good option for income investors is Accent. It is a footwear-focused retailer with a range of brands that resonate with younger consumers. These include HYPEDC, Platypus, Sneaker Lab, Stylerunner, and The Athlete's Foot.
In respect to income, Bell Potter is expecting Accent to pay fully franked dividends per share of 16.1 cents in FY 2023 and then 11.9 cents in FY 2024. Based on the latest Accent share price of $1.94, this suggests dividend yields of 8.3% and 5.9%, respectively.
Bell Potter also sees plenty of upside for its shares with its buy rating and a $2.50 price target.
Lottery Corporation Ltd (ASX: TLC)
Another ASX dividend stock for income investors to consider adding to their portfolio is Lottery Corporation.
It is the company responsible for games including Powerball, Oz Lotto, and Keno.
Citi likes the company due to its defensive qualities and recent price increases. It expects this to underpin a 15 cents per share dividend in FY 2023 and an 18 cents per share dividend in FY 2024. Based on its current share price of $5.30, this will mean fully franked yields of 2.8% and 3.4%, respectively.
Its analysts have a buy rating and a $5.70 price target on the company's shares.
