3 strong ASX dividend stocks for income investors to buy

Analysts have good things to say about these dividend stocks.

| More on:
A businessman looking at his digital tablet or strategy planning in hotel conference lobby. He is happy at achieving financial goals.

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

Do you have space for some more ASX dividend stocks in your income portfolio?  If you do, then it could be worth looking at the three names in this article.

That's because analysts think they are in the buy zone and could provide investors with attractive dividend yields.  Here's what they are forecasting from them:

IPH Ltd (ASX: IPH)

IPH could be a great ASX dividend stock to buy this month. It is an intellectual property solutions company with operations across the world.

Goldman Sachs is a fan of the company. This is partly due to its belief that IPH is "well-placed to deliver consistent and defensive earnings with modest overall organic growth." This is exactly what you want from a dividend stock.

Goldman is forecasting fully franked dividends per share of 34 cents in FY 2024 and then 37 cents in FY 2025. Based on the current IPH share price of $6.25, this represents yields of 5.4% and 5.9%, respectively.

Goldman has a buy rating and $8.70 price target on IPH's shares.

QBE Insurance Group Ltd (ASX: QBE)

Analysts at Goldman Sachs are also feeling positive about this insurance giant and think it could be an ASX dividend stock for income investors to buy.

It likes the company because it "has the strongest exposure to the commercial rate cycle" and that its "North America [business is] on a pathway to improved profitability."

Goldman expects this to underpin dividends per share of 60 US cents (89.5 Australian cents) in FY 2024 and 63 US cents (93.9 Australian cents) in FY 2025. Based on the current QBE share price of $16.82, this equates to dividend yields of 5.3% and 5.6%, respectively.

Goldman has a buy rating and $20.60 price target on its shares.

SRG Global Ltd (ASX: SRG)

Finally, analysts at Bell Potter rate SRG Global as an ASX dividend stock to buy right now. It is a diversified industrial services group that provides multidisciplinary construction, maintenance, production drilling and geotechnical services.

It highlights that the company's "short-to-medium term outlook is reinforced by Government-stimulated construction activity."

Bell Potter is forecasting SRG Global to pay shareholders fully franked dividends of 4.7 cents in FY 2024 and then 6.7 cents in FY 2025. Based on its current share price of 87 cents, this will mean dividend yields of 5.4% and 7.7%, respectively.

The broker has a buy rating and $1.30 price target on its 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. The Motley Fool Australia has recommended IPH and Srg Global. 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

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 name 3 ASX dividend stocks to buy

These dividend shares were give the thumbs up by analysts last week. But why?

Read more »

Man smiling at a laptop because of a rising share price.
Dividend Investing

One ASX dividend machine I'd buy over Fortescue shares right now

When it comes to dividends, growth can be better than a high yield.

Read more »

Excited woman holding out $100 notes, symbolising dividends.
Dividend Investing

3 ASX dividend stocks with great yields to buy today

These dividend options have been given the thumbs up by analysts.

Read more »

two men in hard hats and high visibility jackets look together at a laptop screen that one of the men in holding at a mine site.
Dividend Investing

How big will the BHP dividend be in 2025?

Let's see if the mining giant will be rewarding shareholders with more generous dividends.

Read more »

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

Buy Woolworths and these ASX 200 dividend shares

Analysts think that income investors should be buying these stocks.

Read more »

Happy man holding Australian dollar notes, representing dividends.
Dividend Investing

Buy these ASX dividend shares for passive income

Analysts think these shares could be a good source of passive income.

Read more »

Woman calculating dividends on calculator and working on a laptop.
Dividend Investing

Analysts say these ASX dividend stocks are top buys

Looking for income? Analysts are saying good things about these shares.

Read more »

Hand of a woman carrying a bag of money, representing the concept of saving money or earning dividends.
Dividend Investing

Here's one way to invest $20k to target an average 7% ASX dividend yield

Some businesses can provide high levels of dividend yield.

Read more »