There are lots of income stocks to choose from on the ASX 300 index. So much so, it can often be hard to decide which ones to buy over others.
To narrow things down, I have picked out three options that analysts have recently named as buys and tipped to offer good dividend yields.
Here's what you need to know about these ASX income stocks:
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Accent Group Ltd (ASX: AX1)
Accent Group could be an ASX 300 income stock to buy according to analysts at Bell Potter.
It notes that the footwear focused retailer released a trading update last week and was pleased to see it "reverting back to strong positive comps in 4Q."
Bell Potter's analysts also "remain constructive on the name given the company's scale & exposure in terms of channels, brands & size as the overall industry navigates a challenging retail spend environment."
The broker expects this to underpin 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 $2.16, this represents dividend yields of 6% and 6.75%, respectively.
Bell Potter has a buy rating and $2.50 price target on its shares.
Endeavour Group Ltd (ASX: EDV)
Endeavour Group could be a top ASX 300 income share to buy according to analysts at Goldman Sachs. It is the leading company in alcohol retail through brands such as BWS and Dan Murphy's. It also has a huge network of hotels across Australia.
Goldman likes its market leadership position and the defensive nature of the alcohol retail market.
It is expecting this to put Endeavour in a position to pay fully franked dividends of approximately 22 cents per share in both FY 2024 and FY 2025. Based on the current Endeavour share price of $5.26, this will mean dividend yields of 4.2% for both years.
The broker currently has a buy rating and $6.20 price target on its shares.
Inghams Group Ltd (ASX: ING)
Finally, the team at Morgans thinks that Inghams could be an ASX 300 income share to buy. It is Australia's leading poultry producer and supplier.
Morgans is feeling bullish about the company due to its market leadership position, favourable consumer trends, and valuation. In respect to the latter, it has described Ingham's shares as "undervalued" at current levels.
As for income, Morgans is forecasting fully franked dividends of 22 cents per share in FY 2024 and FY 2025. Based on the current Inghams share price of $3.62, this equates to dividend yields of 6.1% in both years.
Morgans has an add rating and $4.25 price target on its shares.
