Are you on the lookout for income options? If you are, you might want to check out the ASX dividend shares listed below that analysts are tipping as buys.
Here's what you need to know about them:
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Aurizon Holdings Ltd (ASX: AZJ)
Aurizon could be an ASX dividend share to buy. It is a rail freight operator that transports more than 250 million tonnes of Australian commodities each year.
Macquarie is a fan of the company and believes that it can grow its dividend at a solid rate in the coming years. The broker is forecasting partially franked dividends of 18.4 cents per share in FY 2024 and then 25.1 cents per share in FY 2025. Based on the latest Aurizon share price of $3.42, this will mean dividend yields of 5.4% and 7.3%, respectively.
Macquarie has an outperform rating and a $4.04 price target on its shares.
Telstra Group Ltd (ASX: TLS)
Another ASX dividend share that has been named as a buy is telco giant Telstra.
Goldman Sachs is bullish on Telstra and "believe[s] the low risk earnings (and dividend) growth that Telstra is delivering across FY22-25, underpinned through its mobile business, is attractive."
It expects this to underpin fully franked dividends of 18 cents per share in FY 2024 and then 20 cents per share in FY 2025. Based on the current Telstra share price of $3.81, this equates to fully franked yields of 4.7% and 5.25%, respectively.
Goldman Sachs has a buy rating and a $4.70 price target on its shares.
Universal Store Holdings Ltd (ASX: UNI)
Over at Morgans, its analysts think that this youth fashion retailer is a great ASX dividend share to buy right now.
It believes that "UNI's attractive array of medium-term growth prospects is undervalued at a single digit FY25 P/E."
As for income, Morgans is expecting the retailer to pay fully franked dividends per share of 26 cents in FY 2024 and 29 cents in FY 2025. Based on the current Universal Store of $3.29, this will mean yields of 7.9% and 8.8%, respectively.
The broker currently has an add rating and a $4.25 price target on its shares.
