3 ASX dividend stocks to solve your income needs

These dividend shares have been given the thumbs up by analysts.  

| More on:
Woman holding $50 notes and smiling.

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

Fortunately for income seekers, the ASX is not short of dividend-paying shares.

But which ones are buys?

Three 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:

Lottery Corporation Ltd (ASX: TLC)

The first ASX dividend stock that Citi rates highly is OZ Lotto, Powerball, and Keno operator, Lottery Corporation.

Citi likes Lottery Corporation due to its defensive qualities and recent price increases. It expects these to underpin an 18 cents per share dividend in both FY 2024 and FY 2025. Based on the latest Lottery Corporation share price of $4.56, this will mean fully franked yields of almost 4%.

The broker has a buy rating and a $5.70 price target on its shares.

Rural Funds Group (ASX: RFF)

Another ASX dividend stock that could be a buy is Rural Funds. It is an agricultural property company with a high-quality portfolio of assets across several categories.

Bell Potter is positive on Rural Funds and believes its shares are very cheap at current levels.

As for income, the broker is expecting dividends per share of 11.7 cents in FY 2024 and FY 2025. Based on the current Rural Funds share price of $1.91, this will mean yields of 6.1% for investors.

Bell Potter has a buy rating and a $2.40 price target on its shares.

Treasury Wine Estates Ltd (ASX: TWE)

Finally, this wine giant could be an ASX dividend stock to buy according to analysts at Goldman Sachs.

The broker believes the company is well-positioned for growth in the coming years. And that's not including any potential uplift in sales should China remove its wine tariffs.

As for dividends, the broker is expecting Treasury Wine to pay fully franked dividends per share of 38 cents in FY 2024, 44 cents in FY 2025, and 47 cents in FY 2026. Based on its current share price of $10.62, this implies yields of 3.6%, 4.1%, and 4.4%.

Goldman has a buy rating and a $13.26 price target on its shares.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in Treasury Wine Estates. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Lottery. The Motley Fool Australia has positions in and has recommended Rural Funds Group. The Motley Fool Australia has recommended Treasury Wine Estates. 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

Man holding out Australian dollar notes, symbolising dividends.
Consumer Staples & Discretionary Shares

Everything you need to know about the Woolworths dividend

Woolworths will pay out its largest interim dividend in three years in 2024.

Read more »

Man with rocket wings which have flames coming out of them.
Earnings Results

4 All Ords ASX dividend shares going gangbusters on results

All Ords investors are sending these ASX dividend shares soaring on the back of their earnings results.

Read more »

Happy dad watching tv with kids, symbolising passive income.
Dividend Investing

How I built $5,000 of passive income starting with $0

My intake of dividends is continuing to grow.

Read more »

A man raises his reading glasses in a look of surprise.
Dividend Investing

1 ASX dividend stock down 55% to buy right now

Analysts think that this beaten down stock could be a bit of a bargain for income investors.

Read more »

Hand holding Australian dollar (AUD) bills, symbolising ex dividend day. Passive income.
Dividend Investing

Analysts say these ASX dividend shares are top buys

Here are a couple of options for income investors to consider buying right now.

Read more »

Accountant woman counting an Australian money and using calculator for calculating dividend yield.
Energy Shares

Is the 11.3% dividend yield on Woodside shares for real?

Are investors really in line for an 11.3% yield from this oil stock?

Read more »

Yellow rising arrow on a brick wall with a man on a ladder.
Dividend Investing

Owners of Brickworks shares haven't seen a dividend cut for 47 years!

This stock has been building its dividend for a long time.

Read more »

Money Wealth Coin on Shopping Cart and grow up as creative investment ideas.
Dividend Investing

If I invest $10,000 in Woolworths shares, how much dividend income will I receive in 2024?

The supermarket giant is due to report its 1H FY24 results and interim dividend tomorrow.

Read more »