Income investors with $500 to spend on some investments might want to check out the three ASX dividend shares listed below.
That is because they have been named as buys and tipped to provide investors with attractive dividend yields. Here's what you need to know about them:
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Origin Energy Ltd (ASX: ORG)
The first ASX dividend share that could be a top option for a $500 investment is Origin Energy. It is a leading provider of electricity, gas, LPG, solar and internet to homes and businesses across Australia.
The team at Goldman Sachs remains very positive on the company. It expects its "APLNG earnings diversification to support strong FCF & returns." The broker notes that "~50% of FY25E EBITDA from APLNG should reduce risk, while supporting a strong 9% FCF yield."
The broker believes this will underpin fully franked dividends per share of 48 cents in FY 2025 and then 48 cents again in FY 2026. Based on its current share price of $10.01, this would mean dividend yields of 4.8% in both years.
Goldman Sachs has a buy rating and $10.30 price target on its shares.
Regal Partners Ltd (ASX: RPL)
A second ASX dividend share that could be a top option for a $500 investment is Regal Partners. It is a specialist alternative investment manager.
Bell Potter is a big fan of the company and believes its "strong performance is not reflected in the share price." As a result, it sees plenty of upside for its shares and great dividend yields.
In respect to the latter, it is expecting this to underpin fully franked dividends per share of 18.1 cents in FY 2025 and then 21.7 cents in FY 2026. Based on its current share price of $3.72, this represents dividend yields of 4.9% and 5.8%, respectively.
The broker has a buy rating and $4.85 price target on its shares.
Woodside Energy Group Ltd (ASX: WDS)
Finally, the team at Morgans thinks that Woodside could be an ASX dividend share to buy right now.
It is a global energy company providing the energy the world needs to heat and cool homes, keep lights on, and enable industry.
Morgans feels that its shares are undervalued at current levels. The broker highlights that despite "Brent oil trading in line with our long-term forecast, WDS' share price implies a near cycle-low oil price level. We do not see this as capable of being explained by WDS' growth profile (comfortably funded) or risks around non-core assets such as Browse."
In light of this, it thinks that "WDS offers attractive long-term value."
As for dividends, Morgans is forecasting fully franked dividends of $1.83 per share in FY 2024 and $1.52 per share in FY 2025. Based on its current share price of $23.85, this will mean dividend yields of 7.7% and 6.4%, respectively.
The broker has an add rating and $33.00 price target on its shares.
