Income investors on the lookout for new portfolio additions might want to check out the three ASX dividend shares named below.
That's because analysts are tipping them as buys and forecasting them to provide a combination of decent upside and good dividend yields.
Here's what they are expecting from these dividend shares:
Coronado Global Resources Inc (ASX: CRN)
If you are not averse to investing in the mining sector, then Coronado Global Resources could be worth considering.
It is the largest pure play met coal producer delivering into global export markets, with total sales of 15.6Mt in 2023.
Bell Potter is a fan of the company and thinks it could be a great ASX dividend share to buy right now. It recently put a buy rating and $1.60 price target on its shares.
It notes that from "late CY24, CRN's production profile will de-risk with the introduction of 1.5-2.0Mtpa incremental saleable production from its less weather-affected and lower cost Mammoth Underground Project."
It expects this to support the payment of partially franked dividends of 10 cents per share in FY 2025 and then 8.6 cents per share in FY 2026. Based on its current share price, this equates to dividend yields of 9.8% and 8.4%, respectively.
Super Retail Group Ltd (ASX: SUL)
Morgans thinks that Super Retail could be an ASX dividend share to buy. It is the retailer behind the BCF, MacPac, Supercheap Auto, and Rebel store brands.
The broker thinks that things are going so well right now that Super Retail will be positioned to reward its shareholders with special dividends again in FY 2025 and FY 2026.
It is forecasting fully franked dividends per share of 97 cents in FY 2025 and then 103 cents in FY 2026. Based on its current share price of $14.68 this will mean yields of 6.6% and 7%, respectively.
Morgans has an add rating and $19.79 price target on its shares.
Telstra Group Ltd (ASX: TLS)
A final ASX dividend share that is rated highly by analysts is Telstra. It is of course Australia's largest telecommunications company.
The team at Goldman Sachs is positive on the telco giant. It notes that the "low risk earnings (and dividend) growth that Telstra is delivering across FY22-25, underpinned through its mobile business, is attractive." It also sees scope for Telstra "crystallise value through commencing the process to monetize its InfraCo Fixed assets – which we estimate could be worth between A$22-33bn."
In respect to dividends, Goldman is forecasting fully franked dividends of 19 cents per share in FY 2025 and then 20 cents per share in FY 2026. Based on the current Telstra share price of $3.88, this represents dividend yields of 4.9% and 5.1%, respectively.
The broker has a buy rating and $4.35 price target on its shares.
