If you are on the lookout for ASX dividend shares to buy, then it could be worth hearing what Bell Potter is saying about the two listed below.
It is tipping them as buys and is forecasting some attractive dividend yields from them in the near term. Here's what you need to know:
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Aspen Group Limited (ASX: APZ)
The first ASX dividend share that Bell Potter is tipping as a buy is Aspen Group. It is a leading provider of quality affordable accommodation across residential, land lease, and holiday park communities.
The broker likes the company for a number of reasons. This includes its strong track record, high inside ownership, and high return on equity focus on sub-sectors that are non-fungible and repeatable over time. It explains:
APZ co-CEO's hold a large combined stake in the business (c.8%), the company has delivered 20% EPS growth last 5 years, and based on guidance (notwithstanding 11% higher SOI) is expecting to grow 9% in FY25. Still, the valuation is undemanding (7% discount to NTA; 13.5x 1yr forward PE vs. 15.1x sector average) and we think an improving residential macro back drop will only further boost APZ as it works towards ASX300 inclusion in time.
As for income, Bell Potter is forecasting dividends per share of 8.5 cents in FY 2024 and then 9.5 cents in FY 2025. Based on the current Aspen share price of $1.98, this will mean dividend yields of 4.3% and 4.8%, respectively.
The broker has a buy rating and $2.30 price target on its shares.
Regal Partners Ltd (ASX: RPL)
Bell Potter also thinks that this fund manager is an ASX dividend share to buy.
Its analysts have been impressed with the company's performance, are confident on its outlook, and feel that its shares are cheap at current levels. The broker said:
In recent years, Regal has expanded rapidly through strong investment performance, net flows into its funds, launches of new funds, and the acquisition or merger with VGI Partners, PM Capital and Taurus, which have expanded funds under management from $1.1bn in 2017, to over $12.1bn (March 2025). We continue to favour RPL, given its strong organic & inorganic growth potential, and entrepreneurial culture. In the last six months, and following the recent acquisition of PM Capital and Taurus (50%), the firm has shown an acceleration of inflows, strong investment performance (which will give rise to performance fees) and success in marketing new funds. We feel this strong performance is not reflected in the share price and see considerable upside.
As for dividends, Bell Potter is forecasting fully franked dividends per share of 20.3 cents in FY 2024 and FY 2025. Based on its current share price of $3.30, this represents dividend yields of 6.2%.
Bell Potter currently has a buy rating and $4.75 price target on its shares.
