Buy these ASX dividend shares for passive income

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

| More on:
Happy man holding Australian dollar notes, representing dividends.

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

If you're constructing a passive income portfolio, then having some ASX dividend shares that provide great dividend yields is always a good idea.

But which one could be top options for income investors now? Let's look at three for investors to consider buying this week. They are as follows:

Dexus Industria REIT (ASX: DXI)

The first ASX dividend share that could be a buy is Dexus Industria.

It is a real estate investment trust with a focus on industrial warehouses. At the last count, it had a total of 91 properties located across major Australian cities with a combined value of $1.4 billion.

Analysts at Morgans are feeling bullish about the company. The broker notes that "DXI's industrial portfolio remains robust with the outlook positive for rental growth. The development pipeline also provides near and medium-term upside potential and post asset sales there is balance sheet capacity to execute."

Its analysts believe this will support dividends per share of 16.4 cents in FY 2024 and then 16.6 cents in FY 2025. Based on the current Dexus Industria share price of $2.95, this will mean dividend yields of 5.5% and 5.6%, respectively.

Morgans currently has an add rating and $3.18 price target on its shares.

GDI Property Group Ltd (ASX: GDI)

Another ASX dividend share that could be a top option for income investors is GDI Property.

It is a fully integrated, internally managed property and funds management group with capabilities in ownership, management, refurbishment, leasing, and syndication of properties.

Bell Potter thinks it could be a great option right now and believes it is well-positioned to pay some big dividends in the coming years.

The broker is forecasting dividends per share of 5 cents across FY 2024, FY 2025, and FY 2026. Based on the current GDI Property share price of 59 cents, this implies dividend yields of 8.5% for the next three years.

Bell Potter currently has a buy rating and 75 cents price target on its shares.

Woodside Energy Group Ltd (ASX: WDS)

A third ASX dividend share that analysts are tipping as a buy is Woodside Energy. It is one of the world's largest energy producers.

Morgans is also tipping its shares as a buy. The broker highlights that its analysts "see now as a good time to add to positions" after recent share price weakness.

As for dividends, the broker is forecasting fully franked dividends of $1.25 per share in FY 2024 and then $1.57 per share in FY 2025. Based on its current share price of $29.40, this represents attractive dividend yields of 4.25% and 5.35%, respectively.

Morgans has an add rating and $36.00 price target on its shares.

Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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

Happy woman holding $50 Australian notes
Dividend Investing

Which ASX 200 market sectors delivered the best dividend yields in 2025?

Here are the dividend yields of each of the 11 market sectors in 2025.

Read more »

Man looking amazed holding $50 Australian notes, representing ASX dividends.
Dividend Investing

Analysts are urging investors to buy these ASX dividend shares

These income options come highly rated by analysts.

Read more »

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

Forget BHP shares! Buy these ASX dividend shares instead for passive income

I can think of a few options I’d prefer over the mining giant.

Read more »

A padlock wrapped around a wad of Australian $20 and $50 notes, indicating money locked up.
Dividend Investing

An ASX dividend stalwart every Australian should consider buying

This business offers everything an income-focused investor could want.

Read more »

Happy young woman saving money in a piggy bank.
Dividend Investing

Buy 100 shares of this premier dividend share for $150 in passive income

Here’s why this dividend stock remains a favourite for passive income.

Read more »

Three people in a corporate office pour over a tablet, ready to invest.
Dividend Investing

Broker names 2 ASX dividend shares to buy before it's too late

Bell Potter is urging income investors to buy these shares.

Read more »

Two plants grow in jars filled with coins.
Dividend Investing

31%: This could be the best dividend growth stock on the ASX

Let's get into why.

Read more »

A man looking at his laptop and thinking.
Dividend Investing

1 excellent ASX dividend stock, down 60%, to buy and hold for the long term

This beaten down stock could be a top pick for income investors. Let's find out why.

Read more »