Massive dividend yields: Analysts name the ASX income shares to buy

Analysts are forecasting some very big dividend yields from these income shares. But just how big?

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Are you looking for big dividend yields? If you are, then you may want to check out the two ASX income shares listed below.

That's because they are forecast to offer some very generous yields in the near term. Here's what income investors can expect from these shares:

Smiling woman with her head and arm on a desk holding $100 notes, symbolising dividends.

Image source: Getty Images

Charter Hall Retail REIT (ASX: CQR)

Citi thinks that this ASX income share could offer very big dividend yields in the near term, particularly given its "defensive underlying portfolio."

The Charter Hall Retail REIT is a property company with a focus on retail assets. These are predominantly supermarket-anchored neighbourhood and sub-regional shopping centres.

In respect to income, Citi is expecting the company to pay dividends per share of 25.8 cents in FY 2024 and 26.5 cents in FY 2025. Based on the current Charter Hall Retail share price of $3.17, this will mean 8.1% and 8.35%, respectively, for investors.

Citi has a buy rating and a $4.10 price target on its shares. This is 29% higher than where its shares currently trade.

MotorCycle Holdings Ltd (ASX: MTO)

Over at Morgans, its analysts think that this leading motorcycle dealership and accessories company would be a great option for income investors right now.

The broker currently sees significant value at current levels, highlighting that MotorCycle Holdings "continues to screen too cheap on ~6.5x FY24F PE."

In addition, its analysts continue to forecast juicy dividend yields from this ASX income share. They have pencilled in fully franked dividends per share of 20 cents in both FY 2024 and FY 2025. Based on the current MotorCycle Holdings share price of $2.21, this implies yields of 9%.

Morgans currently has an add rating and a $2.60 price target on its shares, which suggests almost 18% upside 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 no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

Middle age caucasian man smiling confident drinking coffee at home.
Dividend Investing

Want passive income? These 3 ASX dividend stocks could deliver

These defensive assets have a long history of paying a reliable passive income to their shareholders.

Read more »

A woman wearing a black and white striped t-shirt looks to the sky with her hand to her chin, contemplating buying ASX shares.
Dividend Investing

If I invest $5,000 in Wesfarmers shares, what passive income will I get in 2027?

Wesfarmers has a long history of paying a reliable dividend to its shareholders.

Read more »

Smiling elderly couple looking at their superannuation account, symbolising retirement.
Dividend Investing

Is this the perfect retirement dividend stock with a 7% yield and big upside?

This could be a must add equity.

Read more »

Australian dollar notes in the pocket of a man's jeans, symbolising dividends.
Dividend Investing

Get paid huge amounts of cash to own these ASX dividend shares

I’d love to buy these stocks for dividends!

Read more »

A woman wearing glasses and a black top smiles broadly as she stares at a money yarn full of coins.
Dividend Investing

2 ASX dividend shares I'd buy for income with staying power

Long leases, real assets, and tenant relationships can all help support income through different conditions.

Read more »

View of a business man's hand passing a $100 note to another with a bank in the background.
Dividend Investing

There are still some well-priced ASX dividend shares. Here's where to look

Here's where to look for well-priced income right now.

Read more »

Person handing out $50 notes, symbolising ex-dividend date.
Dividend Investing

3 ASX dividend shares to buy and hold for years of income

Looking for long-term income? Here are three dividend shares to consider.

Read more »

Male hands holding Australian dollar banknotes, symbolising dividends.
Dividend Investing

3 companies to own for a dividend yield above 5%

If you're after secure income, these companies might fit the bill.

Read more »