In recent times, the Australian share market has provided income investors with an average dividend yield of approximately 4%.
While this is a good yield, you don't have to settle for that. Especially given that there are analysts forecasting 6%+ dividend yields from some ASX dividend shares.
Let's take a look at three that analysts are feeling bullish about:
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Accent Group Ltd (ASX: AX1)
The first ASX dividend share that analysts are tipping as a buy right now is Accent Group. It is the owner of numerous footwear retail store brands such as HypeDC and Platypus.
Bell Potter likes Accent Group due to its strong market position and its "growth adjacencies via exclusive partnerships with globally winning brands such as Hoka and growing vertical brand strategy."
The broker currently has a buy rating and $2.50 price target on its shares.
As for income, Bell Potter expects the company to pay fully franked dividends per share of 13 cents in FY 2024 and then 14.6 cents in FY 2025. Based on the latest Accent share price of $1.84, this represents dividend yields of 7% and 7.9%, respectively.
APA Group (ASX: APA)
Another ASX dividend share that analysts are bullish on is APA Group. It is an energy infrastructure business that owns and operates a portfolio of gas, electricity, solar and wind assets valued at $27 billion.
The team at Macquarie thinks it would be a great option for income investors. Particularly given its belief that the company's long run of dividend increases can continue.
Macquarie has an outperform rating and $9.40 price target on its shares.
As for those dividends, the broker is forecasting dividend increases to 56 cents per share in FY 2024 and then 57.5 cents per share in FY 2025. Based on the current APA Group share price of $8.78, this equates to 6.4% and 6.55% yields, respectively.
Healthco Healthcare and Wellness REIT (ASX: HCW)
A final ASX dividend share that analysts are bullish on is Healthco Healthcare and Wellness REIT. It is a property company with a focus on health and wellness assets such as hospitals, aged care, and primary care properties.
Bell Potter also sees it as a dividend share to buy and expects some big yields from its shares in the near term.
The broker is forecasting dividends per share of 8 cents in FY 2024 and 8.3 cents in FY 2025. Based on the current Healthco Healthcare and Wellness REIT unit price of $1.19, this will mean yields of 6.7% and 7%, respectively.
Bell Potter has a buy rating and $1.70 price target on its shares.
