If you're looking for a source of passive income, then it could be worth checking out the two ASX 50 dividend shares listed below that brokers are bullish on.
Here's what you need to know about these income options:
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Endeavour Group Ltd (ASX: EDV)
Goldman Sachs believes that this drinks company could be a quality ASX 50 dividend share to buy right now.
The broker likes the company due to its industry-leading position and attractive valuation. It highlights that "EDV is currently trading at FY24e P/E of 18.4x with FY23-25e EPS CAGR of ~5%, which is the cheapest vs WOW, COL, WES."
As for dividends, the broker is forecasting a fully franked dividend of approximately 22 cents per share in FY 2024 and 24 cents per share in FY 2025. Based on the current Endeavour share price of $5.24, this equates to yields of 4.2% and 4.55%, respectively.
Goldman currently has a buy rating and a $6.60 price target on the company's shares.
Macquarie Group Ltd (ASX: MQG)
Another ASX 50 dividend share that has been tipped as a buy is investment bank Macquarie.
Morgans is very positive on the bank and appears to see recent share price weakness as a buying opportunity. Particularly given Macquarie's positive long-term outlook thanks to its exposure to "structural growth areas such as infrastructure and renewables."
As for dividends, the broker is expecting partially franked dividends of $5.74 per share in FY 2024 and $6.21 per share in FY 2024. Based on the current Macquarie share price of $168.46, this will mean yields of 3.4% and 3.7%, respectively.
Morgans has an add rating and a $194.40 price target on the company's shares.
