3 ASX dividend stocks with good yields to buy now

Analysts have put buy ratings on these income options.

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There are plenty of ASX dividend stocks to choose from on the local market, but which ones could be buys in April?

Three shares that were recently identified as buys by analysts are listed below. Here's what its analysts are saying about them:

Aurizon Holdings Ltd (ASX: AZJ)

The first ASX dividend stock that could be a buy in April is Aurizon. It is Australia's largest rail freight operator, transporting more than 250 million tonnes of Australian commodities and connecting miners, primary producers, and industry with international and domestic markets.

The team at Ord Minnett is feeling very positive about the company's outlook and see a lot of value in its shares at current levels. In response to its recent half-year results, the broker put an accumulate rating and $4.70 price target on its shares.

As for income, the broker is forecasting partially franked dividends of 17.8 cents per share in FY 2024 and then 24.3 cents per share in FY 2025. Based on the latest Aurizon share price of $4.00, this will mean dividend yields of 4.5% and 6%, respectively.

Dexus Convenience Retail REIT (ASX: DXC)

Another ASX dividend stock that could be a buy is Dexus Convenience Retail REIT. It owns a portfolio of service station and convenience retail assets located across Australia and concentrated on the eastern seaboard.

Morgans is tipping its shares as a buy. Last month, in response to its half-year results, the broker put an add rating and $3.23 price target on them.

In respect to dividends, it is forecasting some very big yields in the coming years. Morgans has pencilled in dividends per share of 21 cents in both FY 2024 and FY 2025. Based on its current share price of $2.78, this implies yields of 7.5%.

Woodside Energy Group Ltd (ASX: WDS)

A final ASX dividend stock for income investors to look at is Woodside Energy. It is one of the world's largest energy companies with a portfolio of high-quality operations and projects spanning the globe.

The team at Morgans is also feeling very positive about Woodside and "see now as a good time to add to positions." The broker has an add rating and $34.20 price target on its shares.

As for income, Morgans is forecasting the energy giant to pay a fully franked dividends of $1.36 per share in FY 2024 and $1.12 per share in FY 2025. Based on the current Woodside share price of $30.50, this equates to 4.4% and 3.7% dividend yields, respectively, for investors.

Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. 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 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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