Analysts are tipping these ASX dividend shares with big yields as buys this month

Now could be the time to pounce on these dividend shares.

| More on:
Man holding fifty Australian Dollar banknote in his hands, symbolising dividends, symbolising dividends.

Image source: Getty Images

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

A new month is here, so what better time for income investors to look at making some new additions to their portfolio.

But which ASX dividend shares could be buys this month?

Three that have recently been named as buys are listed below. Here's what sort of dividend yields you can expect from them:

Accent Group Ltd (ASX: AX1)

The first ASX dividend share that could be a buy this month is Accent. It is a footwear retailer that owns a growing collection of popular store brands. These include HYPEDC, Platypus, and The Athlete's Foot.

Bell Potter is tipping the company as a buy with a $2.50 price target.

As for dividends, the broker is forecasting fully franked dividends per share of 11.8 cents in FY 2024 and then 13.7 cents in FY 2025. Based on the latest Accent share price of $1.87, this represents yields of 6.3% and 7.3%, respectively.

National Australia Bank Ltd (ASX: NAB)

Another ASX dividend share that could be a buy this month is big four bank, NAB.

Goldman Sachs is positive on the bank and believes it is well-positioned in the current environment.

This is because its analysts "see volume momentum over the next 12 months as favouring commercial volumes over housing volumes, and believe NAB provides the best exposure to this thematic."

Goldman expects this to underpin the payment of fully franked dividends of $1.66 per share in both FY 2023 and FY 2024. Based on the current NAB share price of $28.05, this implies dividend yields of 5.9%.

Goldman has a buy rating and a $30.73 price target on its shares.

Stockland Corporation Ltd (ASX: SGP)

Finally, this residential and land lease developer and retail, logistics and office real estate property manager could be an ASX dividend share to buy.

That's the view of analysts at Citi, which highlight its "strong medium-term growth outlook and cheap valuation." The broker currently has a buy rating and a $5 price target its shares.

The broker is also forecasting some big dividend yields. It expects dividends per share of 27 cents in FY 2024 and FY 2025. Based on the current Stockland share price of $3.54, this will mean yields of 7.6% in both years.

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 Goldman Sachs Group. The Motley Fool Australia has recommended Accent Group. 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

A woman has a thoughtful look on her face as she studies a fan of Australian 20 dollar bills she is holding on one hand while he rest her other hand on her chin in thought.
Bank Shares

Should I buy ANZ shares for the 7% dividend yield?

ANZ is standing out from the banking pack right now.

Read more »

Excited woman holding out $100 notes, symbolising dividends.
Dividend Investing

2 ASX 300 dividend shares that analysts rate as buys

Here's what analysts are saying about these dividend shares.

Read more »

A mature aged man with grey hair and glasses holds a fan of Australian hundred dollar bills up against his mouth and looks skywards with his eyes as though he is thinking what he might do with the cash.
Dividend Investing

Did OPEC+ just crimp the outlook for the 2024 Woodside dividend?

Woodside shares delivered an all-time high final dividend in April.

Read more »

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

3 ASX dividend shares to buy this month

Analysts think that income investors should check out these dividend stocks in December.

Read more »

A little girl holds on to her piggy bank, giving it a really big hug.

2 top ASX dividend stocks to buy and hold forever

Here are two companies I'd buy shares in to keep the income up instead of holding cash.

Read more »

Woman calculating dividends on calculator and working on a laptop.
Dividend Investing

Buy NAB and these ASX 200 dividend stocks

Analysts are saying good things about these income options.

Read more »

ETF written on cubes sitting on piles of coins.

The rise of dividend ETFs in Australia: A new era of investment

Dividend ETFs can be great, but make sure you watch out for these key indicators.

Read more »

Smiling woman holding Australian dollar notes in each hand, symbolising dividends.

2 ASX dividend stocks I'll be buying hand over fist in 2024

These two shares are on the top of my 2024 wish list.

Read more »