Thankfully for income investors, there are a good number of ASX dividend shares to choose from on the Australian share market.
Three that analysts are positive on are listed below. Here's what they are expecting from these dividend shares in the near term:
Stockland Corporation Ltd (ASX: SGP)
Stockland could be an ASX dividend share to buy according to analysts at Citi. The broker currently has a buy rating and a $4.60 price target on Australia's largest community creator.
As for dividends, the broker is forecasting dividends per share of 27 cents in both FY 2024 and FY 2025. Based on the current Stockland share price of $4.10, this will mean dividend yields of 6.6% in both financial years.
Super Retail Group Ltd (ASX: SUL)
Another ASX dividend share that has been named as a buy is retailer Super Retail. Morgans is positive on Super Retail and was impressed with its performance in FY 2023. It highlights Super Retail's "better than expected margins meant NPAT was 9% higher than our estimates."
The broker has an add rating and a $15 price target on its shares. In respect to dividends, Morgans is forecasting fully franked dividends per share of 89 cents in FY 2024 and 73 cents in FY 2025. Based on the latest Super Retail share price of $12.80, this will mean generous yields of 7% and 5.7%, respectively.
Westpac Banking Corp (ASX: WBC)
A final ASX dividend share that has been named as buy is Australia's oldest bank, Westpac. Morgans remains positive on the bank despite being disappointed with its performance in FY 2023. This is due to its attractive valuation and big dividend yield.
Morgans has an add rating and price target of $23.02. As for dividends, it is expecting fully franked dividends per share of $1.46 in FY 2023 and $1.47 in FY 2024. Based on the current Westpac share price of $21.19, this will mean ~6.9% and 6.95% yields.
