Are you in the market for some ASX dividend shares? If you are, check out the three listed below that are from different sides of the market.
Here's why analysts are tipping them as buys for income investors:
Image source: Getty Images
Accent Group Ltd (ASX: AX1)
The first ASX dividend share for income investors to consider buying is Accent. It is the footwear-focused retailer behind brands including HYPEDC, Platypus, Sneaker Lab, Stylerunner, and The Athlete's Foot.
Bell Potter is a fan of the company and has a buy rating and a $2.50 price target on its shares.
In respect to dividends, its analysts are forecasting fully franked dividends per share of 12 cents in FY 2024 and then 14.1 cents in FY 2025. Based on the latest Accent share price of $1.97, this represents yields of 6% and 7.1%, respectively.
Rio Tinto Ltd (ASX: RIO)
Another ASX dividend share that could be a buy according to analysts is mining giant Rio Tinto.
Goldman Sachs is positive on the miner due to its "compelling relative valuation." The broker has a buy rating and a $125.20 price target on its shares.
In respect to dividends, the broker is forecasting fully franked dividends per share of US$3.47 (A$5.40) in FY 2023 and then US$4.05 (A$6.30) in FY 2024. Based on the latest Rio Tinto share price of $114.11, this will mean yields of 4.7% and 5.5%, respectively.
Westpac Banking Corp (ASX: WBC)
A final ASX dividend share that could be a buy this month is banking giant Westpac.
Morgans remains positive on Australia's oldest bank despite its disappointing performance in FY 2023. This is because of its attractive valuation. The broker has an add rating and a $23.02 price target on its shares.
As for dividends, Morgans is forecasting fully franked dividends of $1.46 per share in FY 2023 and then $1.47 per share in FY 2024. Based on the current Westpac share price of $21.56, this will mean yields of ~6.8% in both years.
