There are plenty of ASX dividend shares for income investors to choose from on the Australian share market.
But which ones could be top options for investors right now?
Let's take a look at four top dividend shares that analysts are currently tipping as buys. They are as follows:
APA Group (ASX: APA)
The first option for income investors to look at is APA Group. It is an energy infrastructure company that owns, manages, and operates a $27 billion portfolio of gas, electricity, solar and wind assets.
The team at Macquarie sees its shares as a buy. The broker currently has an outperform rating and $9.40 price target on them.
As for income, Macquarie is forecasting dividends per share of 56 cents in FY 2024 and 58 cents in FY 2025. Based on the current APA Group share price of $7.83, this equates to 7.15% and 7.4% dividend yields, respectively.
Challenger Ltd (ASX: CGF)
Goldman Sachs thinks that this annuities company could be an ASX dividend share to buy.
The broker currently has a buy rating and $7.50 price target on its shares. It likes Challenger's "exposure to the growing superannuation market across Life and Funds Management" and feels that "higher yields should drive a favorable sales environment for retail annuities as well as an improvement in margins."
Goldman expects this to underpin fully franked dividends of 26 cents per share in FY 2024 and 27 cents per share in FY 2025. Based on the current Challenger share price of $6.86, this will mean dividend yields of 3.8% and 3.9%, respectively.
Endeavour Group Ltd (ASX: EDV)
Another ASX dividend share that could be worth considering is Endeavour Group. It is the leader in alcohol retail thanks to brands such as Dan Murphy's and BWS.
Goldman Sachs likes its market leadership position and the defensive nature of the alcohol retail market. For this reason, it recently put a buy rating and $6.50 price target on its shares.
As for income, it is forecasting fully franked dividends of 21 cents per share in FY 2024 and then 22 cents per share in FY 2025. Based on the current Endeavour share price of $5.38, this will mean dividend yields of 3.9% and 4.1%, respectively.
Transurban Group (ASX: TCL)
Finally, Citi is tipping Transurban as an ASX dividend share to buy. It is the leading toll road operator behind roads such as CityLink in Melbourne and the Eastern Distributor in Sydney.
The broker believes its toll road portfolio leaves the company well-placed to increase its dividend in the coming years. It is expecting 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 $12.88, this will mean yields of 4.9% and 5%, respectively.
Citi has a buy rating and $15.50 price target on its shares.
