There are plenty of ASX dividend shares to choose from on the Australian share market.
Three that brokers believe are buys are listed below. Here's what they are saying about them:
Accent Group Ltd (ASX: AX1)
The team at Bell Potter believe footwear-focused retailer Accent could be an ASX dividend share to buy. The broker currently has a buy rating and a $2.50 price target on its shares.
Bell Potter believes the company is well-placed in the current environment thanks to "continuing casual footwear trends and as sports, fitness & wellness related spending remains a priority."
As for dividends, 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 $2.04, this represents dividend yields of 5.9% and 6.9%, respectively.
HomeCo Daily Needs REIT (ASX: HDN)
Another ASX dividend share that brokers rate as 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 positive on the company and has an add rating and a $1.50 price target on its shares.
As for income, the broker is expecting some big dividend yields in the near term. It is 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 share price of $1.11, this will mean yields of 7.5% and 7.7%, respectively.
MotorCycle Holdings Ltd (ASX: MTO)
Another ASX dividend share that brokers rate as a buy is this motorcycle dealership and accessories company. Morgans is also positive on it and has an add rating and a $2.60 price target on its shares.
The broker believes that MotorCycle Holdings "continues to screen too cheap on ~6.5x FY24F PE."
And with such as cheap valuation, Morgans expects some big dividend yields for this one as well. It is forecasting fully franked dividends per share of 20 cents in both FY 2024 and FY 2025. Based on the current MotorCycle Holdings share price of $2.14, this implies yields of 9.3%.
