3 ASX dividend shares with 5%+ yields to buy now

These dividend shares could be in the buy zone according to analysts.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

If you're on the lookout for some new additions to your income portfolio, then read on.

Listed below are three ASX dividend shares that brokers have recently been named as buys.

Here's what sort of dividend yields you can expect from them:

Man holding out $50 and $100 notes in his hands, symbolising ex dividend.

Image source: Getty Images

Accent Group Ltd (ASX: AX1)

Bell Potter think that Accent Group would be a top option for income investors. It is the owner of store brands including The Athlete's Foot, Stylerunner, and HYPEDC.

The broker 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 $2.22, this represents dividend yields of 5.4% and 6.4%, respectively.

Its analysts currently have a buy rating and $2.50 price target on its shares.

Dalrymple Bay Infrastructure Ltd (ASX: DBI)

Another ASX dividend share that could offer an attractive yield is Dalrymple Bay Infrastructure. It is the long-term operator of the Dalrymple Bay Coal Terminal (DBCT).

Citi is positive on the company and believes it is well-positioned to pay 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 $2.78, this will mean yields of 7.4% and 7.9%, respectively.

Citi has a buy rating and $3.00 price target on its shares.

QBE Insurance Group Ltd (ASX: QBE)

Over at Goldman Sachs, its analysts believe that insurance giant QBE could be an ASX dividend share to buy. This is due largely to favourable tailwinds and strong premium increases in the insurance market.

Goldman expects this to allow the company to pay a 59 US cents (90.4 Australian cents) per share dividend in FY 2024 and a 61 US cents (93.5 Australian cents) per share dividend in FY 2025. Based on the current QBE share price of $16.64, this equates to yields of 5.4% and 5.6%, respectively.

Goldman has a buy rating and $18.52 price target on the company's shares.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

Smiling woman with her head and arm on a desk holding $100 notes, symbolising dividends.
Dividend Investing

I'd buy 22,166 shares of this ASX stock to aim for $50 a week of passive income

This business is providing investors with consistent and pleasing dividends.

Read more »

A young woman sits with her hand to her chin staring off to the side thinking about her investments.
Dividend Investing

Want to build a second income? I'd buy these ASX shares today

I rate these as fantastic options for dividend income, here’s why…

Read more »

a man wearing casual clothes fans a selection of Australian banknotes over his chin with an excited, widemouthed expression on his face.
Dividend Investing

The easy way to buy ASX dividend shares and build passive income

This could be the easiest way to generate an income from the share market.

Read more »

A fit woman in workout gear flexes her muscles with two bigger people flexing behind her, indicating growth.
Dividend Investing

5 powerhouse ASX dividend shares to buy and hold until 2050

These shares could be the backbone of a strong 'forever' portfolio.

Read more »

Young investor sits at desk looking happy after discovering Westpac's dividend reinvestment plan
Dividend Investing

Forget Westpac shares, I'd buy these ASX dividend stocks

With some bank valuations looking stretched, I’d be looking at these dividend stocks for a more attractive mix of yield…

Read more »

Australian notes and coins symbolising dividends.
Share Market News

2 ASX dividend shares yielding 11% or even more

These ASX dividend-paying shares also offer potential for growth.

Read more »

Small girl giving a fist bump with a piggy bank in front of her.
Dividend Investing

Own ASX IOZ or other iShares ETFs? Here are the dividends you'll get today

BlackRock will pay your dividends today.

Read more »

Man holding Australian dollar notes, symbolising dividends.
Dividend Investing

2 ASX shares with dividend yields above 8%

These stocks can provide significant levels of passive income.

Read more »