There are plenty of quality ASX 300 dividend stocks to choose from on the Australian share market.
But which ones could be best buys right now?
Two that have been tipped as strong buys by analysts are listed below. Here's why they could be great options:
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Healthco Healthcare and Wellness REIT (ASX: HCW)
The team at Bell Potter thinks that Healthco Healthcare and Wellness REIT could be an ASX 300 dividend stock to buy. It is a property company with a focus on health and wellness assets such as hospitals, aged care facilities, and primary care properties.
Bell Potter is feeling very positive about the company's outlook and believes it is well-positioned to provide investors with some big dividend yields in the coming years. It commented:
HCW is Australia's largest diversified healthcare REIT which includes hospitals, aged care, childcare, government, life sciences, and primary care & wellness property assets. The company has doubled in asset size in the last 12 months, with a strong development pipeline with attractive yields on cost (+7%), and a low cost of capital where other externally managed REITs are unable to grow and at the behest of volatile 10 year bond yields / debt base rates. Healthcare real estate is highly fragmented and has a long runway domestically in Australia.
Bell Potter is forecasting dividends per share of 8 cents in FY 2024 and then 8.3 cents in FY 2025. Based on the current Healthco Healthcare and Wellness REIT unit price of $1.12, this will mean yields of 7.1% and 7.4%, respectively.
The broker has a buy rating and $1.50 price target on its shares.
Woodside Energy Group Ltd (ASX: WDS)
Analysts at Morgans think that this energy giant could be an ASX 300 dividend stock to buy.
It believes that recent share price weakness has created a buying opportunity for investors. It explains:
A tier 1 upstream oil and gas operator with high-quality earnings that we see as likely to continue pursuing an opportunistic acquisition strategy. WDS's share price has been under pressure in recent months from a combination of oil price volatility and approval issues at Scarborough, its key offshore growth project. With both of those factors now having moderated, with the pullback in oil prices moderating and work at Scarborough back underway, we see now as a good time to add to positions.
Morgans is forecasting fully franked dividends of $1.28 per share in FY 2024 and $1.54 per share in FY 2025. Based on its current share price of $26.87, this will mean yields of 4.8% in FY 2024 and then 5.7% in FY 2025.
The broker has an add rating and $35.00 price target on Woodside's shares.
