There are plenty of quality ASX dividend shares to choose from on the Australian share market.
But which ones could be great options for income investors?
Three that have been tipped as buys are listed below. Here's why they could be worth a look:
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APA Group (ASX: APA)
APA Group could be an ASX dividend share to buy according to analysts at Macquarie. It is an energy infrastructure business that owns, manages, and operates a diverse portfolio of gas, electricity, solar and wind assets.
The broker currently has an outperform rating and $9.40 price target on the company's shares.
As for dividends, the broker believes that APA Group is on course to increase its dividend for the 20th year in a row. It is forecasting dividends per share of 56 cents in FY 2024 and then 57.5 cents in FY 2025. Based on the current APA Group share price of $8.32, this equates to 6.7% and 6.9% dividend yields, respectively.
Rural Funds Group (ASX: RFF)
Over at Bell Potter, its analysts think that Rural Funds could be an ASX dividend share to buy right now. It is a property company that owns a portfolio of high-quality assets across a number of agricultural industries.
These properties are predominantly leased to corporate agricultural operators on long-term agreements.
Bell Potter currently has a buy rating and $2.40 price target on its shares.
In respect to income, the broker is forecasting dividends per share of 11.7 cents in both FY 2024 and FY 2025. Based on the current Rural Funds share price of $2.04, this will mean dividend yields of 5.7% for investors.
Telstra Corporation Ltd (ASX: TLS)
A third ASX dividend share that could be a buy is Telstra.
That's the view of analysts at Goldman Sachs, which remain positive on the telco giant despite a recent underwhelming guidance update.
The broker continues to believe that the "low risk earnings (and dividend) growth that Telstra is delivering across FY22-25, underpinned through its mobile business, is attractive."
But the positives don't end there. Goldman highlights that the company "has a meaningful medium term opportunity to crystallise value through commencing the process to monetize its InfraCo Fixed assets."
Its analysts are forecasting fully franked dividends of 18 cents per share in FY 2024 and then 18.5 cents per share in FY 2025. Based on the current Telstra share price of $3.62, this equates to dividend yields of 5% and 5.1%, respectively.
Goldman currently has a buy rating and $4.25 price target on Telstra's shares.
