Income investors searching for dividends might want to read on.
That's because listed below are three ASX dividend stocks that analysts at Citi are recommending as buys.
Here's what you need to know about them:
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Coles Group Ltd (ASX: COL)
The first ASX dividend stock that could be a buy is supermarket and liquor giant Coles.
Citi is bullish on the company and currently has a buy rating and $17.50 price target on its shares.
In respect to 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 $15.98, this will mean dividend yields of 4% and 4.4%, respectively.
Dalrymple Bay Infrastructure Ltd (ASX: DBI)
Another ASX dividend stock that has been given a buy rating by Citi is Dalrymple Bay Infrastructure. It is the long-term operator of the Dalrymple Bay Coal Terminal (DBCT).
DBCT operates around the clock, exporting thermal and metallurgical coal from Queensland's Bowen Basin mines to ports around the world.
Citi has a buy rating and $3.00 price target on its shares.
As for income, the broker is forecasting big dividend yields in the coming years. It expects 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 $2.79, this will mean yields of 7.4% and 7.9%, respectively.
Stockland Corporation Ltd (ASX: SGP)
A third ASX dividend stock that could be a buy according to Citi is Stockland.
It is Australia's largest community creator. It owns, manages, and develops retail town centres, workplace and logistics assets, residential, and land lease properties.
Citi has a buy rating and $5.10 price target its shares.
In respect to dividends, the broker is forecasting dividends per share of 27 cents in both FY 2024 and FY 2025. Based on the current Stockland share price of $4.49, this will mean yields of 6% in both years.
