Are you in the market for some ASX dividend stocks? If you are, check out the two listed below that are from different sides of the market.
Here's why analysts are tipping these as buys for income investors:
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Accent Group Ltd (ASX: AX1)
Accent could be an ASX dividend stock to buy following a recent selloff according to Bell Potter.
According to a note from today, the broker has retained its buy rating with a trimmed price target of $2.35. It said:
We continue to view AX1 as a relative preference in our retail sector coverage given the company's scale & exposure in terms of channels, brands & size as the overall industry navigates a challenging retail spend environment in addition to growth adjacencies via exclusive partnerships with globally winning brands such as Hoka and growing vertical brand strategy.
As for dividends, the broker is now forecasting fully franked dividends per share of 11.1 cents in FY 2024 and then 13 cents in FY 2025. Based on the latest Accent share price of $1.77, this represents dividend yields of 6.3% and 7.3%, respectively.
National Australia Bank Ltd (ASX: NAB)
Goldman Sachs thinks that NAB could be another ASX dividend stock to buy.
It believes the bank is well-positioned in the current environment thanks to its commercial lending exposure. 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 has a buy rating and a $30.52 price target on its shares.
As for dividends, the broker expects fully franked dividends of $1.62 per share in both FY 2024 and FY 2025. Based on the current NAB share price of $27.93, this implies dividend yields of 5.8%.
