Here are 3 ASX dividend shares to buy for big yields

Here's what sort of yields analysts are forecasting from these shares.

| More on:
Hand with Australian dollar notes symbolising ex-dividend date.

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

If you're on the lookout for new income portfolio additions, then take a look at the ASX dividend shares listed below.

They have recently been named as buys and tipped to provide big yields. Here's what you need to know about them:

Dalrymple Bay Infrastructure Ltd (ASX: DBI)

The first ASX dividend share that could be a buy is Dalrymple Bay Infrastructure. It is the long-term operator of the Dalrymple Bay Coal Terminal.

Citi is positive on the company and has a buy rating and a $3 price target on its shares.

As for dividends, 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 $2.73, this will mean very generous yields of 7.5% and 8%, respectively.

National Australia Bank Ltd (ASX: NAB)

Another ASX dividend share that has been named as a buy is big four bank, NAB.

Goldman Sachs likes the bank 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."

The broker expects this to underpin fully franked dividends of $1.62 per share in both FY 2024 and FY 2025. Based on the current NAB share price of $28.36, this implies yields of 5.7%.

Goldman has a buy rating and a $30.52 price target on its shares.

Super Retail Group Ltd (ASX: SUL)

Another ASX dividend share that has been named as a buy is retailer Super Retail. It is the owner of popular retail brands including BCF, Rebel and Super Cheap Auto.

Morgans is a fan of the retailer. It highlights that Super Retail delivered "better than expected margins" in FY 2023. This helped drive stronger profits and has led to the broker boosting its forecasts for the coming years.

It is now forecasting fully franked dividends per share of 89 cents in FY 2024 and then 73 cents in FY 2025. Based on the latest Super Retail share price of $13.42, this will mean yields of 6.6% and 5.4%, respectively.

Morgans has an add rating and a $15 price target on its shares.

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 positions in and has recommended Super Retail 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

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 »

Shot of a scientist using a computer while conducting research in a laboratory.
Healthcare Shares

What is the dividend growth rate of CSL stock?

CSL's dividends are worth more than what meets the eye.

Read more »

Hand with Australian dollar notes handing the money to another hand symbolising ex-dividend date.
Dividend Investing

Here's everything you need to know about the latest BHP dividend

How big is the latest dividend from the mining giant?

Read more »