Luckily for income investors, there are plenty of ASX dividend stocks to choose from on the Australian share market.
Four that could be great options for them right now according to brokers are listed below. Here's what you need to know:
Accent Group Ltd (ASX: AX1)
The first ASX dividend stock that could be a buy is Accent Group. It is a leisure footwear focused retailer with over 800 stores across brands such as Hype DC, Sneaker Lab, Platypus, Stylerunner, and The Athlete's Foot.
Bell Potter likes the company and believes it is well placed to pay big dividends in the near term. It is forecasting 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 $2.14, this represents dividend yields of 6.1% and 6.8%, respectively.
Bell Potter has a buy rating and $2.50 price target on its shares.
IPH Ltd (ASX: IPH)
Another ASX dividend stock that has been named as a buy is IPH. It is a global intellectual property (IP) services company with a network of member firms across a large number of IP jurisdictions.
Goldman Sachs is a fan of the company and believes that "IPH is well-placed to deliver consistent and defensive earnings with modest overall organic growth."
In respect to income, Goldman is forecasting fully franked dividends of 34 cents per share in FY 2024 and then 37 cents per share in FY 2025. Based on the current IPH share price of $6.01, this represents yields of 5.65% and 6.15%, respectively.
The broker currently has a buy rating and $8.70 price target on its shares.
SRG Global Ltd (ASX: SRG)
SRG Global could be another ASX dividend stock to buy. It is a diversified industrial services group that provides multidisciplinary construction, maintenance, production drilling and geotechnical services.
Bell Potter is bullish on SRG Global. Its analysts highlight that the company's "short-to-medium term outlook is reinforced by Government-stimulated construction activity."
The broker expects this to underpin fully franked dividends of 4.7 cents in FY 2024 and then 6.7 cents in FY 2025. Based on its current share price of 87 cents, this will mean dividend yields of 5.4% and 7.7%, respectively.
Bell Potter has a buy rating and $1.30 price target on its shares.
Universal Store Holdings Ltd (ASX: UNI)
A fourth ASX dividend stock that could be a buy is Universal Store. It is the youth fashion retailer behind the Universal Store, Perfect Stranger, and Thrills brands.
Morgans is feeling bullish about the company and believes it is well-placed to navigate the tough consumer environment.
The broker expects this to support fully franked dividends of 26 cents per share in FY 2024 and then 29 cents per share in FY 2025. Based on the current Universal Store share price of $6.09, this equates to dividend yields of 4.3% and 4.75%, respectively.
The broker has an add rating and $6.95 price target on its shares.
