Looking for an income boost? Well, the good news is that brokers have just named a number of ASX 300 dividend shares as buys for income investors.
For example, three that could be worth considering are listed below. Here's what sort of passive income you could expect to receive from their shares with a $10,000 investment:
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Deterra Royalties Ltd (ASX: DRR)
Morgan Stanley thinks that Deterra Royalties could be an ASX 300 dividend share to buy.
It manages a portfolio of royalty assets across a range of commodities. This includes royalties held over its cornerstone asset, Mining Area C, in the Pilbara region of Western Australia, which is operated by BHP Group Ltd (ASX: BHP).
Morgan Stanley currently has an overweight rating and $5.60 price target on its shares.
As for income, the broker is expecting Deterra Royalties to pay fully franked dividends per share of 37 cents in FY 2024 and 34 cents in FY 2025. Based on the current Deterra Royalties share price of $4.91, this will mean yields of 7.5% and 6.9%, respectively.
This means that a $10,000 investment would generate approximately $725 of passive income over the next 12 months if Morgan Stanley's forecasts are on the money.
Dexus Industria REIT (ASX: DXI)
Analysts at Morgans think that Dexus Industria could be an ASX 300 dividend share to buy. It is a real estate investment trust that invests in high quality industrial warehouses across Australia.
Morgans currently has an add rating and $3.18 price target on its shares.
In respect to income, the broker is forecasting dividends per share of 16.4 cents in FY 2024 and 16.6 cents in FY 2025. Based on the current Dexus Industria share price of $2.97, this will mean dividend yields of 5.5% and 5.6%, respectively.
If this proves accurate, a $10,000 investment would generate approximately $550 of passive income over the next 12 months.
Super Retail Group Ltd (ASX: SUL)
Finally, Super Retail could be an ASX 300 dividend share to buy according to analysts at Goldman Sachs. It is the name behind popular retail brands BCF, Macpac, Rebel, and Supercheap Auto.
Goldman currently has buy rating and $17.80 price target on its shares.
As for income, the broker is expecting Super Retail's strategic growth plan to underpin fully franked dividends per share of 67 cents in FY 2024 and then 73 cents in FY 2025. Based on the latest Super Retail share price of $15.49, this will mean yields of 4.3% and 4.7%, respectively.
This suggests that a $10,000 investment would generate in the region of $450 of passive income over the next 12 months.
