3 ASX dividend shares to buy in September

Brokers say that these dividend shares are in the buy zone.

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Fortunately for income investors, the ASX is not short of dividend-paying shares.

Three ASX dividend shares that analysts think could be good options right now for an income boost are listed below.

Here's what you need to know about them:

Dalrymple Bay Infrastructure Ltd (ASX: DBI)

The first ASX dividend share that has been named as a buy is Dalrymple Bay Infrastructure. It is an infrastructure company and the long-term operator of the Dalrymple Bay Coal Terminal (DBCT).

Citi is positive on the company and has a buy rating and a $3 price target on its shares.

As for dividends, the broker is forecasting dividends per share of 20.6 cents in FY 2023 and 22 cents in FY 2024. Based on the latest Dalrymple Bay Infrastructure share price of $2.78, this will mean very generous yields of 7.4% and 7.9%, respectively.

Lottery Corporation Ltd (ASX: TLC)

Another ASX dividend share that Citi rates highly is Lottery Corporation. It is the lottery company behind OZ Lotto, Powerball, and Keno.

Citi likes Lottery Corporation due to its defensive qualities and recent price increases. The broker believes the market "underestimates the uplift to the contribution margin" from the latter. It has a buy rating and a $5.70 price target on its shares.

In respect to dividends, the broker is forecasting an 18 cents per share dividend in FY 2024 and FY 2025. Based on the latest Lottery Corporation share price of $4.68, this will mean fully franked yields of 3.85%.

Rural Funds Group (ASX: RFF)

A final ASX dividend share that could be a buy is Rural Funds. It is an agricultural property company with a high-quality portfolio of assets.

Bell Potter is a fan of Rural Funds and has a buy rating and a $2.25 price target on its shares.

As for income, the broker is expecting dividends per share of 11.7 cents in FY 2024 and FY 2025. Based on the current Rural Funds share price of $1.92, this will mean yields of 6.1% for investors.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Lottery. The Motley Fool Australia has positions in and has recommended Rural Funds Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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