Do you have room in your income portfolio for some new additions?
If you do, then it could be worth checking out the ASX All Ords dividend shares listed below that brokers believe could rise over 30% and provide attractive dividend yields.
Here's what you need to know about them:
Orora Ltd (ASX: ORA)
Goldman Sachs thinks that Orora could be an ASX All Ords dividend share to buy now.
The broker believes the packaging company's shares are undervalued, particularly given its defensive qualities. It commented:
We believe the legacy business benefits from relative top-line defensiveness, continued self-help in the Americas and growth capital investments that are underway in the Australasian business, while Saverglass is likely to experience near-term volume headwinds, though revert to benefit from the alcohol premiumisation trend, albeit at a slower rate than in the past ~15 years of rapid growth. We are Buy rated on the stock and believe the current market implied valuation of Saverglass provides a favourable risk-reward skew.
As for dividends, Goldman is expecting some good yields from its shares in the near term. It is forecasting dividends per share of 9 cents in FY 2024 and 8 cents in FY 2025. Based on the current Orora share price of $2.04, this will mean yields of 4.4% and 3.9%, respectively.
Goldman sees upside potential of 32% for its shares with its buy rating and $2.70 price target.
SRG Global Ltd (ASX: SRG)
Another ASX All Ords dividend share that could be a buy is SRG Global.
It is a diversified industrial services group that provides multidisciplinary construction, maintenance, production drilling and geotechnical services.
Bell Potter is a big fan of the company. This is due to its belief that SRG will be a beneficiary of Government-stimulated construction activity and accelerating growth in iron ore and gold production volumes. It explains:
SRG's short-to-medium term outlook is reinforced by Government-stimulated construction activity in the Infrastructure and Non-Residential sectors and increased development and sustaining capital expenditures in the Resources industry. The resulting expansion in infrastructure bases across these sectors will likely support increased demand for asset care and maintenance in the medium to long-term. We anticipate Mining Services will be a beneficiary of accelerating growth in iron ore and gold production volumes over the next five years.
In respect to dividends, the broker is forecasting fully franked dividends of 4.7 cents in FY 2024 and then 5.6 cents in FY 2025. Based on its current share price of 91.5 cents, this will mean dividend yields of 5.1% and 6.1%, respectively.
Bell Potter has a buy rating and $1.35 price target on its shares. This implies potential upside of 47% for investors.
