There are plenty of ASX dividend shares to choose from on the Australian share market. But which are great options?
Two that have been rated as buys and tipped to offer very big dividend yields in the near term are named below.
Here's what analysts are expecting from them:
Baby Bunting Group Ltd (ASX: BBN)
The first ASX dividend share for income investors to look at is Baby Bunting.
Baby Bunting is Australia's largest specialty retailer of maternity and baby goods.
It has been having a tough time over the last 18 months but analysts at Morgans appear to believe the worst could now be behind it, potentially making now a good time to invest.
The broker currently has an add rating and a $2.50 price target on its shares.
As for dividends, its analysts are forecasting fully franked dividends per share of 9.9 cents in FY 2024 and then 12.9 cents in FY 2025. Based on the current Baby Bunting share price of $1.69, this will mean dividend yields of 5.9% and 7.6%, respectively.
HomeCo Daily Needs REIT (ASX: HDN)
Another ASX dividend share that could be a buy for income investors is HomeCo Daily Needs.
It is a property investment company with a focus on convenience-based assets. These are assets predominantly found across neighbourhood retail, large format retail, and health and services. Anything that provides daily needs to the public.
Morgans is also positive on the company. It believes HomeCo Daily Needs is well-positioned to benefit from "accelerating click & collect trends" and its development pipeline.
The broker currently has an add rating and a $1.37 price target on its shares.
In addition, it is forecasting some big dividend yields in the near term. The broker expects 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 $1.22, this will mean yields of 6.8% and 7%, respectively.
