5 ASX dividend shares to buy next week

Analysts have put buy ratings on these income stocks. Here's what sort of yields you can expect.

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The good news for income investors is that there are a large number of ASX dividend shares to choose from on the Australian share market.

So many, it can be hard to decide which ones to buy over others. But don't worry, analysts have done the hard work for you and picked out five shares that they think could be in the buy zone now.  They are as follows:

Aurizon Holdings Ltd (ASX: AZJ)

The first ASX dividend share that could be a buy next week is Aurizon. It is Australia's largest rail freight operator, transporting more than 250 million tonnes of Australian commodities each year.

Analysts at Ord Minnett are bullish on the company and has an accumulate rating and a $4.70 price target on its shares.

As for dividends, 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 $3.78, this will mean dividend yields of 4.7% and 6.4%, respectively.

Centuria Industrial REIT (ASX: CIP)

Another ASX dividend share that could be a buy according to analysts this month is Centuria Industrial. It is Australia's largest domestic pure-play industrial property investment company.

The team at UBS is feeling very positive about the company and has a buy rating and a $3.71 price target on its shares.

In respect to dividends, the broker is expecting Centuria Industrial to pay dividends per share of 16 cents in both FY 2024 and in FY 2025. Based on the current Centuria Industrial share price of $3.18, this represents dividend yields of 5% in both years.

Coles Group Ltd (ASX: COL)

Analysts at Morgans think income investors should look at buying this supermarket giant's shares when the market reopens next week. The broker currently has an add rating and an $18.95 price target on its shares.

In respect to the dividend, it is expecting Coles to be in a position to pay fully franked dividends of 66 cents per share in FY 2024 and 69 cents per share in FY 2025. Based on the current Coles share price of $16.12, this implies yields of approximately 4.1% and 4.3%, respectively.

QBE Insurance Group Ltd (ASX: QBE)

Over at Goldman Sachs, its analysts think that this insurance giant could be a great option for income investors. The broker has a buy rating and a $20.58 price target on the ASX dividend share.

In respect to income, the broker is expecting dividends per share of 61 US cents (92.8 Australian cents) in FY 2024 and FY 2025. Based on the current QBE share price of $17.33, this equates to dividend yields of 5.35% based on current exchange rates.

Universal Store Holdings Ltd (ASX: UNI)

A final ASX dividend share for investors to look at is Universal Store. It is the youth fashion retailer behind the Universal Store, Perfect Stranger, and Thrills brands.

Morgans is also very positive on the company and last month put an add rating and $6.50 price target on its shares.

The broker believes the company is well-placed to pay fully franked dividends per share of 26 cents in FY 2024 and then 29 cents in FY 2025. Based on the current Universal Store share price of $5.46, this will mean attractive yields of 4.75% and 5.3%, respectively.

Motley Fool contributor James Mickleboro has positions in Universal Store. 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 Coles Group. 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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