Forget term deposits and buy these ASX dividend stocks

Analysts think these high-yield dividend stocks are top buys.

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While the yields on savings accounts and term deposits have improved over the last 12 months, they still don't compare to some of the dividend yields you can find on the Australian share market.

For example, analysts are forecasting bigger-than-average yields from these ASX dividend stocks in the near term. Here's what they expect:

Aurizon Holdings Ltd (ASX: AZJ)

The first high-yield ASX dividend stock that has been named as a buy is Aurizon. It is Australia's largest rail freight operator.

Macquarie sees the company as a top option for investors right now. It has an outperform rating and a $4.04 price target on its shares.

As for dividends, the broker is forecasting partially franked dividends of 19.1 cents per share in FY 2024 and then 24.5 cents per share in FY 2025. Based on the latest Aurizon share price of $3.86, this will mean yields of 4.9% and 6.3%, respectively.

Stockland Corporation Ltd (ASX: SGP)

Another ASX dividend stock that could be a buy is Stockland.

That's the view of analysts at Citi, which currently have a buy rating and $5.10 price target on Australia's largest community creator.

In respect to income, Citi is expecting dividends per share of 32 cents in FY 2024 and 35 cents in FY 2025. Based on the current Stockland share price of $4.38, this will mean yields of 7.3% and 8% yields, respectively.

Woodside Energy Group Ltd (ASX: WDS)

A final ASX dividend stock that analysts rate highly is Woodside Energy.

A recent note out of Goldman Sachs shows that its analysts "see long-term value in WDS." Goldman has a buy rating and a $36.30 price target on its shares.

The broker is also expecting some attractive dividend yields in the near term. It is forecasting the energy giant to pay fully franked dividends of US$1.20 (A$1.79) per share in FY 2023 and US$1.27 (A$1.89) per share in FY 2024. Based on the current Woodside share price of $31.10, this equates to 5.75% and 6.1% dividend yields, respectively, for investors.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended Aurizon. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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