The Australian share market is a great place to generate an income.
That's because there are countless ASX shares out there that pay dividends every six months (or even more regularly).
But which ASX income shares could be in the buy zone right now? Let's take a look:
Dalrymple Bay Infrastructure Ltd (ASX: DBI)
The first ASX income share to look at is Dalrymple Bay Infrastructure. It is the long-term operator of the Dalrymple Bay Coal Terminal. This terminal has been Queensland's premier coal export facility for over 40 years.
The team at Morgans is bullish on the company. It currently has an add rating and $3.05 price target on its shares.
As for income, the broker is forecasting dividends per share of 22 cents in FY 2024 and then 23 cents in FY 2025. Based on the latest Dalrymple Bay Infrastructure share price of $2.76, this will mean dividend yields of 8% and 8.3%, respectively.
Endeavour Group Ltd (ASX: EDV)
Over at Goldman Sachs, its analysts think Endeavour Group could be a great stock for income investors to buy. It is the market leader in alcohol retail through brands such as BWS and Dan Murphy's.
Goldman currently has a buy rating and $6.50 price target on its shares.
In respect to dividends, Goldman is forecasting fully franked dividends of 21 cents per share in FY 2024 and 22 cents per share in FY 2025. Based on the current Endeavour share price of $4.96, this will mean dividend yields of 4.2% and 4.4%, respectively.
GDI Property Group Ltd (ASX: GDI)
A third ASX income share to look at is GDI Property. It is a property owner and fund manager that is being tipped as a buy by analysts at Bell Potter.
The broker currently has a buy rating and 75 cents price target on its shares.
Bell Potter believes GDI Property is positioned to pay dividends per share of 5 cents across FY 2024, FY 2025, and FY 2026. Based on the current GDI Property share price of 56 cents, this implies dividend yields of 8.9% for the next three years.
Transurban Group (ASX: TCL)
Finally, analysts at Citi think toll road operator Transurban could an ASX income share to buy.
The broker currently has a buy rating and $15.50 price target on its shares.
As for that all-important income, Citi believes the company is positioned to pay dividends per share of 63.6 cents in FY 2024 and then 65.1 cents in FY 2025. Based on the current Transurban share price of $12.39, this will mean yields of 5.1% and 5.25%, respectively.
