These ASX 300 dividend shares offer yields of 5% to 8%

Analysts think big yields could be coming for owners of these shares.

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Are you on the lookout for some new additions to your income portfolio in April?

If you are, then check out the three ASX 300 dividend shares listed below that brokers have recently named as buys and tipped to offer generous dividend yields.

Here's what you can expect from them in the coming years:

ANZ Group Holdings Ltd (ASX: ANZ)

If you don't already have exposure to the banking sector, then it could be worth looking at ANZ Bank.

That's the view of analysts at Ord Minnett, which believe the big four bank's shares can continue rising from current levels.

The broker thinks ANZ could be an ASX 300 dividend share to buy partly due to its proposed acquisition of Suncorp Bank, which is nearing completion. The broker expects the acquisition to add scale to areas where it currently trails the other big four banks.

In respect to dividends, its analysts are forecasting fully franked dividends per share of $1.62 in FY 2024 and $1.65 in FY 2025. Based on the current ANZ share price of $28.81, this will mean dividend yields of 5.6% and 5.7%, respectively.

Ord Minnett currently has an accumulate rating and $31.00 price target on its shares.

GDI Property Group Ltd (ASX: GDI)

Another ASX 300 dividend share that could be a buy this month is GDI Property.

It is a fully integrated, internally managed property and funds management group with capabilities in ownership, management, refurbishment, leasing and syndication of properties.

The team at Bell Potter is tipping the company's shares as a buy at current levels. Especially given the broker's expectation that GDI Property will be paying some big dividends in the coming years.

Bell Potter is forecasting dividends per share of 5 cents across FY 2024, FY 2025, and FY 2026. Based on the current GDI Property share price of 60.5 cents, this implies dividend yields of 8.2%.

Bell Potter has a buy rating and 75 cents price target on its shares.

Telstra Group Ltd (ASX: TLS)

A third ASX 300 dividend share that analysts rate highly is Telstra.

It is of course Australia's largest telecommunications company with millions of broadband and mobile subscribers.

Goldman Sachs is a fan of Telstra and believes its key mobile business will underpin low risk earnings and dividend growth over the coming years.

Speaking of the latter, the broker is forecasting fully franked dividends of 18 cents per share in FY 2024 and then 19 cents per share in FY 2025. Based on the current Telstra share price of $3.83, this equates to fully franked yields of 4.7% and 5%, respectively.

Goldman has a buy rating and $4.55 price target on Telstra's 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 positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Telstra Group. 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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