Bell Potter names the best ASX 300 dividend shares to buy

The broker has good things to say about these shares.

| More on:
a woman holds a facebook like thumbs up sign high above her head. She has a very happy smile on her face.

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 looking for income ideas then you may want to listen to what Bell Potter is saying about the ASX 300 dividend shares listed below.

That's because the broker currently has them on its preferred list and is forecasting attractive dividend yields from their shares. Here's what the broker is saying about them:

Healthco Healthcare and Wellness REIT (ASX: HCW)

Bell Potter thinks that this health and wellness property company could be an ASX 300 dividend share to buy. Particularly given recent weakness, which means that its shares are trading at a significant discount to its net tangible assets (NTA). It said:

HCW has underperformed the REIT sector last 3 months (-10% vs. +22% XPJ) following bond yield reversion and is attractively priced at 20% discount to NTA (but only REIT to record flat to positive valuation movement at 1H24) with double digit 3 year EPS CAGR given high relative sector debt hedging and ability to grow its $1bn development pipeline via attractive YoC spread to marginal cost of debt. Longer term, HCW has significant scope for growth with an estimated $218 billion addressable market where an ageing and growing population should underpin long-term sector demand.

The broker has a buy rating and a $1.70 price target on the company's shares.

As for dividends, the broker is forecasting dividends per share of 8 cents in FY 2024 and 8.3 cents in FY 2025. This equates to yields of 6.7% and 6.9%, respectively.

GUD Holdings Limited (ASX: GUD)

Another ASX 300 dividend share that could be a buy according to Bell Potter is GUD. It is a diversified products company with a focus on the automotive market through brands including Ryco, Wesfil and Goss.

The broker believes the company is well-positioned in the current environment thanks to the resilience of its automotive business. It said:

We see GUD as well-placed to benefit from the ongoing improvement in OEM supply constraints into FY24. Overall, our Buy rating for GUD is predicated on the relative resilience of the legacy auto business and improving momentum in new car sales, which should be favourable for APG's earnings.

Bell Potter currently has a buy rating and a $12.80 price target on its shares.

In respect to dividends, the broker is forecasting fully franked dividends per share of 38.5 cents in FY 2024 and 40.4 cents in FY 2025. This will mean yields of 3.5% and 3.7%, respectively.

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 no position in any of the stocks mentioned. 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 young parents with their daughter dream of success.
Dividend Investing

Top ASX dividend shares to buy in May 2024

Who could use a little extra cash right now?

Read more »

Smiling elderly couple looking at their superannuation account, symbolising retirement.
Dividend Investing

Looking to retire? Buy these ASX dividend shares for passive income

Analysts think these income stocks are in the buy zone right now.

Read more »

Man holding a calculator with Australian dollar notes, symbolising dividends.
Dividend Investing

What is the dividend yield of Wesfarmers shares?

Does Wesfarmers offer an appealing dividend yield right now?

Read more »

Four investors stand in a line holding cash fanned in their hands with thoughtful looks on their faces.
Dividend Investing

4 ASX All Ords shares with ex-dividend dates next week

Time's running out to get these latest ASX dividend payments...

Read more »

Two happy shoppers finding bargains amongst clothes on a store rack
Dividend Investing

2 high-yield ASX dividend shares to buy as they bounce

I rate these stocks as buys, they look cheap and they have high yields.

Read more »

Man holding out Australian dollar notes, symbolising dividends.
Dividend Investing

Guess which ASX dividends stocks analysts think are top buys

Analysts think these shares have decent upside potential and attractive yields.

Read more »

A woman in a hammock on her laptop and drinking a smoothie
Dividend Investing

$8,000 in savings? Here's how I'd aim to turn that into $1,151 in monthly passive income

Here’s how I’d go about investing in ASX dividend shares.

Read more »

A man holding a cup of coffee puts his thumb up and smiles while at laptop.
Dividend Investing

2 of the best ASX 200 dividend giants to buy in May

Brokers have named these stocks as their best ideas this month.

Read more »