Fortunately for income investors, the ASX is not short of dividend-paying shares.
Two ASX dividend stocks that analysts think could be good options right now for an income boost are listed below.
Here's what you need to know about them:
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ANZ Group Holdings Ltd (ASX: ANZ)
The first ASX dividend stock for income investors to consider buying is banking giant ANZ.
Goldman Sachs remains bullish on the bank following its full-year results this week. In response, the broker has reiterated its conviction buy rating on its shares with a $26.66 price target.
It continues to believe that the bank's institutional business makes it the best option in the space right now. Its analysts said:
[T]he FY23 result provided further evidence of ANZ's improving profitability of its Institutional business and in particular we note its Transaction Banking profits have reached an all-time high, while also with improved ROE, ii) we see further upside risk to ANZ Group returns from mix shifts in its Institutional division, iii) our assessment of the profitability of this division concludes that these return improvements are largely sustainable.
Goldman Sachs continues to expect some big dividend yields from its shares in the near term. It is forecasting fully franked dividends of 162 cents per share in FY 2024, FY 2025, and FY 2026. Based on the current ANZ share price of $25.01, this will mean yields of 6.5%.
Dalrymple Bay Infrastructure Ltd (ASX: DBI)
Another ASX dividend stock that has been named as a buy is Dalrymple Bay Infrastructure. It is an infrastructure company and the long-term operator of the Dalrymple Bay Coal Terminal (DBCT).
Citi is positive on the company and has a buy rating and a $3 price target on its shares. It believes Dalrymple Bay Infrastructure is well-positioned to grow its monster dividend in the coming years. It said:
With TIC [Terminal Infrastructure Charge] set and ~90% of debt hedged at an extended 6.7yr duration. We estimate distributions (which are now franked) can continue to grow at a solid rate. Subsequently, we remain Buy rated and see the growing 8% yield as attractive.
The broker is forecasting dividends per share of approximately 20.6 cents in FY 2023 and 22 cents in FY 2024. Based on the latest Dalrymple Bay Infrastructure share price of $2.79, this will mean very generous yields of 7.4% and 7,9%, respectively.
