Income investors are a lucky group! The Australian share market is home to a large number of quality ASX dividend shares.
But which ones could be buys? Three that brokers rate highly are listed below. Here's what you need to know about them:
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Accent Group Ltd (ASX: AX1)
The first ASX dividend share to look at is Accent Group. It is the company behind store brands The Athlete's Foot, Stylerunner, HYPEDC, and Sneaker Lab, to name just a few.
Bell Potter is a fan of the company and believes it is well-placed to benefit from "continuing casual footwear trends and as sports, fitness & wellness related spending remains a priority."
The broker currently has a buy rating and a $2.50 price target on its shares.
In addition, it is forecasting fully franked dividends per share of 12 cents in FY 2024 and then 14.1 cents in FY 2025. Based on the current Accents share price of $1.88, this represents dividend yields of 6.4% and 7.5%, respectively.
Coles Group Ltd (ASX: COL)
Another ASX dividend share that has been named as a buy is supermarket giant Coles.
Citi is bullish on the company and believes its margins will get a boost in FY 2024 from anti-theft measures. It has a buy rating and a $17.50 price target on its shares.
As for dividends, the broker is forecasting fully franked dividends of 64 cents per share in FY 2024 and 70 cents per share in FY 2025. Based on the current Coles share price of $16.12, this will mean yields of 4% and 4.35%, respectively.
QBE Insurance Group Ltd (ASX: QBE)
Finally, Goldman Sachs believes that QBE could be an ASX dividend share to buy in January.
The broker currently has a buy rating and $18.09 price target on its shares.
In respect to dividends, the broker is forecasting payouts of 60 US cents per share in FY 2024 and 62 US cents per share in FY 2025. Based on the current QBE share price of $15.03, this will mean yields of 6%, and 6.3%, respectively.
