2 ASX dividend shares to buy to supercharge your income

Analysts are saying good things about these dividend shares.

| More on:
Person holding Australian dollar notes, symbolising dividends.

Image source: Getty Images

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 searching for an income boost, then it could be worth checking out the two ASX dividend shares listed below that analysts are bullish on.

Here's what you they are saying about these income options:

Accent Group Ltd (ASX: AX1)

The first ASX dividend share for investors to consider buying for income is footwear-focused retailer Accent.

It owns a large stable of brands such as Hype DC, Platypus, Stylerunner, and Sneaker Lab.

Bell Potter is positive on the company. This is because of "continuing casual footwear trends and as sports, fitness & wellness related spending remains a priority."

The broker expects this to underpin fully franked dividends per share of 12 cents in FY 2024 and then 14.1 cents in FY 2025. Based on the latest Accent share price of $2.27, this represents dividend yields of 5.3% and 6.2%, respectively.

Bell Potter has a buy rating and $2.80 price target on its shares.

Dexus Convenience Retail REIT (ASX: DXC)

Another ASX dividend share that has been given the thumbs up is Dexus Convenience Retail REIT.

It is a convenience retail and service station property fund with a portfolio of 101 assets located across Australia but concentrated on the eastern seaboard. Management notes that its portfolio is leased to high-quality tenants on attractive, long-term leases.

Bell Potter is also a fan of the company and highlights that "DXC trades at a circa 34% discount to stated NTA which we think is overly punitive for 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, it is expecting some big yields in the near term. The broker 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 $2.80, this equates to yields of 7.5% and 7.3%, respectively.

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

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 no position in any of the stocks mentioned. 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

Man drawing an upward line on a bar graph symbolising a rising share price.
Dividend Investing

3 top Australian shares to buy for dividend growth

Analysts have put buy ratings on these shares. Let's see what they are recommending.

Read more »

Two university students in the library, one in a wheelchair, log in for the first time with the help of a lecturer.
Dividend Investing

2 ASX 200 shares that just boosted their dividends

Let's dig deeper into what these shares have reported on Tuesday.

Read more »

Woman and man calculating a dividend yield.
Dividend Investing

1 ASX dividend stock down 29% I'd buy right now

The business has suffered during the high interest rate period.

Read more »

Man looking amazed holding $50 Australian notes, representing ASX dividends.
Dividend Investing

Buy these blue chip ASX dividend shares for 5%+ yields and major upside

Analysts think these blue chips could be top buys for income investors.

Read more »

Ecstatic woman looking at her phone outside with her fist pumped.
Dividend Investing

Brokers say these ASX 200 dividend shares are top buys this month

They have good things to say about these income options right now.

Read more »

Close-up Of Empty Shopping Cart Near Person's Hand Using Calculator Over White Desk
Dividend Investing

Coles shares: Here's the dividend yield you'll get if you buy today

We look at what a broker thinks about Coles' dividend potential.

Read more »

A smiling pink piggy bank graduates after years of growth
Dividend Investing

3 top ASX shares with high dividend growth to buy now

Bell Potter has good things to say about these growing shares.

Read more »

A woman blows what looks like colourful dust at the camera, indicating a positive or magic situation.
Dividend Investing

Passive income investors: This ASX stock has a 4% dividend yield with growing payouts

This business is one of my leading dividend picks.

Read more »