Looking for ASX dividend stocks for your income portfolio? If you are, then you could check out the three listed below that have been named as buys and tipped to offer big yields.
Here's what brokers are saying about these shares:
Dalrymple Bay Infrastructure Ltd (ASX: DBI)
The first ASX dividend stock that could be a buy is Dalrymple Bay Infrastructure. It is the long-term operator of the Dalrymple Bay Coal Terminal (DBCT).
DBCT is the world's largest metallurgical coal export facility, serving as a global gateway from the Bowen Basin and is a critical link in the global steelmaking supply chain.
Citi is feeling positive on the company thanks to its big yields and hedged debt.
In respect to the former, the broker is forecasting dividends per share of 20.6 cents in FY 2023 and 22 cents in FY 2024. Based on the latest Dalrymple Bay Infrastructure share price of $2.80, this will mean juicy yields of 7.35% and 7.9%, respectively.
Citi has a buy rating and $3.00 price target on its shares.
Dexus Convenience Retail REIT (ASX: DXC)
Another ASX dividend stock that analysts are positive on is Dexus Convenience Retail REIT.
Bell Potter is a big fan of the convenience retail and service station property fund. It believes its shares are cheap and deserve to trade on higher multiples. Particularly given that it operates in a "sub-sector where there is clear price discovery, and investors for commercial real estate have a clear preference for smaller cheque size assets."
In addition, the broker is expecting some big dividend yields. It is forecasting dividends per share of 20.9 cents in FY 2024 and 20.5 cents in FY 2025. Based on its current share price of $2.65, this equates to yields of 7.9% and 7.7%, respectively.
Bell Potter has a buy rating and $2.85 price target on Dexus Convenience Retail REIT's shares.
Universal Store Holdings Ltd (ASX: UNI)
This youth fashion retailer could be another ASX dividend stock for investors to buy.
That's the view of the bullish analysts at Morgans, which highlight the company's "attractive array of medium-term growth prospects."
The broker is expecting this to allow Universal Store to pay fully franked dividends of 26 cents in FY 2024 and then 29 cents in FY 2025. Based on the latest Universal Store share price of $4.10, this equates to yields of 6.3% and 7.1%, respectively.
Its analysts have an add rating and $4.55 price target on its shares.
