Thankfully for income investors, there are countless ASX dividend stocks to choose from on the Australian share market.
Three that have recently been named as buys and tipped to offer above-average dividend yields are listed below. Here's what you need to know about these shares:
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Centuria Industrial REIT (ASX: CIP)
The first ASX dividend stock that analysts have named as a buy is Centuria Industrial. It is an industrial property investment company with a portfolio filled to the brim with fit-for-purpose industrial assets worth a collective $3.8 billion.
The team at UBS is feeling very positive about Centuria Industrial. The broker believes that its portfolio leaves it well-positioned for growth in the near term. So much so, it expects the company to pay a dividend of 16 cents per share in FY 2025 and then lift it to 17 cents per share in FY 2026. Based on the current Centuria Industrial share price of $3.16, this represents dividend yields of 5.1% and 5.4%, respectively.
UBS has a buy rating and $3.80 price target on its shares.
Eagers Automotive Ltd (ASX: APE)
Another ASX dividend stock that analysts are bullish on is Eagers Automotive. It is an automotive retail group with over 250 locations across the Australia and New Zealand market. Eagers Automotive has a diversified portfolio of automotive brands, including all 19 of the top 20 selling car brands in Australia.
With its shares down sharply this year, Bell Potter appears to believe that now could be a good time to buy. Especially as it feels Eagers Automotive could deliver a second half result ahead of consensus expectations in FY 2024.
As for income, the broker is forecasting fully franked dividends of 66.5 cents per share in FY 2024 and then 73 cents per share in FY 2025. Based on its current share price of $11.74, this represents dividend yields of 5.7% and 6.2%, respectively.
Bell Potter has a buy rating and $13.00 price target on its shares.
Origin Energy Ltd (ASX: ORG)
Finally, Origin Energy could be an ASX dividend stock to buy according to analysts at Goldman Sachs. It is a leading provider of electricity, gas, LPG, solar and internet to homes and businesses across Australia.
Goldman Sachs likes the company partly because it expects Origin Energy's "APLNG earnings diversification to support strong FCF & returns." It notes that "~50% of FY25E EBITDA from APLNG should reduce risk, while supporting a strong 9% FCF yield."
The broker expects this to underpin fully franked dividends per share of 48 cents in FY 2025 and then 58 cents in FY 2026. Based on its current share price of $9.66, this would mean dividend yields of 5% and 5.7%, respectively.
Goldman Sachs has a buy rating and $10.45 price target on its shares.
