3 ASX 300 dividend stocks to buy now for income

Brokers think these dividend stocks are buys right now. What sort of yields are they forecasting?

| More on:
Woman calculating dividends on calculator and working on a laptop.

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

Are you wanting some new additions for your income portfolio?

If you are, then you may want to check out the three ASX 300 dividend stocks listed below that analysts rate highly.

Here's what these analysts are recommending and what sort of income could be on offer with their shares right now:

Dexus Industria REIT (ASX: DXI)

The first ASX 300 dividend stock that could be a buy this month is Dexus Industria.

It is a real estate investment trust which primarily invests in high-quality industrial warehouses. Management believes its portfolio is well-positioned to provide sustainable income and capital growth prospects for shareholders over the long term.

Morgans seems to agree and is forecasting some big dividend yields in the near term.

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 $2.87, this will mean dividend yields of 5.7% and 5.8%, respectively.

Morgans currently has an add rating and a $3.18 price target on its shares.

Lottery Corporation Ltd (ASX: TLC)

Another ASX 300 dividend stock that is rated highly is Lottery Corporation. It is the lottery company behind OZ Lotto, Powerball, and Keno.

UBS likes Lottery Corporation and believes its shares are good value at current levels.

In respect to dividends, the broker is forecasting a 17 cents per share dividend in FY 2024 and then a 20 cents per share dividend in FY 2025. Based on the latest Lottery Corporation share price of $4.96, this will mean fully franked dividend yields of 3.4% and 4%, respectively, over the next two years.

UBS has a buy rating and a $5.75 price target on the company's shares.

NIB Holdings Limited (ASX: NHF)

Over at Goldman Sachs, analysts believe that this private health insurer could be an ASX 300 dividend stock to buy.

The broker likes NIB for a number of reasons. This includes its defensive qualities and favourable claims environment. It highlights that the company "offers defensive exposure to the private health insurance sector which is experiencing favourable operating trends."

As for income, Goldman is forecasting fully franked dividends per share of 31 cents in FY 2024 and 30 cents in FY 2025. Based on the current NIB share price of $7.61, this would mean 4.1% and 3.9% dividend yields, respectively.

Goldman currently has a buy rating and $8.10 price target on NIB'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 and Lottery. The Motley Fool Australia has positions in and has recommended NIB Holdings. 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

Australian notes and coins symbolising dividends.
Dividend Investing

Buy 6,316 shares of this top ASX dividend stock for $100 per month in passive income

Investors can call on this stock to pay solid dividends.

Read more »

Middle age caucasian man smiling confident drinking coffee at home.
Dividend Investing

2 of the best ASX 300 dividend stocks to buy now

Income investors may want to check out these buy-rated stocks.

Read more »

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

3 ASX dividend shares to buy and hold for 10 years

Analysts have buy ratings on these income options. Here's what you need to know.

Read more »

An older farmer stands arms outstretched in a field with a big smile on his face.
Dividend Investing

1 ASX dividend stock down 36% to buy right now

I think we can farm a lot of good passive income from the ASX share.

Read more »

A young boy points and smiles as he eats fried chicken.
Dividend Investing

Are these 2 ASX dividend shares standout buys for a winning portfolio?

Does the great dividend income of these stocks make them buys?

Read more »

A female broker in a red jacket whispers in the ear of a man who has a surprised look on his face as she explains which two ASX 200 shares should do well in today's volatile climate
Dividend Investing

Top brokers say these ASX dividend stocks are quality buys

Here's what brokers are saying about these buy-rated income stocks.

Read more »

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

4 ASX dividend shares to buy right now

Analysts are tipping these stocks as buys for income investors.

Read more »

Woman on a swing at a beach, symbolising passive income.
Dividend Investing

$15k stashed away? I could turn that into a second income worth $22 a day!

Dividends and compounding are excellent financial forces.

Read more »