There are plenty of ASX dividend stocks to choose from on the Australian share market. But which could be buys?
Three that analysts are tipping as top options for income investors right now are listed below. Here's what they are saying about them:
Accent Group Ltd (ASX: AX1)
The first ASX dividend stock to that could be a buy is footwear-focused retailer Accent.
Bell Potter is a fan of the company and has a buy rating and a $2.80 price target on its shares.
The broker is 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 $1.84, this represents dividend yields of 6.5% and 7.7%, respectively.
HomeCo Daily Needs REIT (ASX: HDN)
Another ASX dividend stock that could be a buy is HomeCo Daily Needs.
It is a property company with a focus on neighbourhood retail, large format retail, and health and services.
Morgans is bullish on the company and has an add rating and a $1.39 price target on its shares. The broker is also expecting some very juicy dividend yields in the coming years.
Its analysts are forecasting dividends per share of 8.3 cents in FY 2024 and then 8.5 cents in FY 2025. Based on the current HomeCo Daily Needs unit price of $1.03, this will mean yields of 8% and 8.25%, respectively.
Transurban Group (ASX: TCL)
A final ASX dividend stock to buy could be Transurban. It is a toll road operator that owns a collection of roads across Australia and North America.
Analysts at Citi are positive on the company and have a buy rating and a $15.90 price target on its shares.
As for dividends, the broker is forecasting dividends per share of 63 cents in FY 2024 and then 65 cents in FY 2025. Based on the current Transurban share price of $11.87, this will mean yields of 5.3% and 5.5%, respectively.