If you are looking to add some new ASX dividend stocks to your income portfolio then the two listed below could be worth considering.
That's because they have just been named as buys by analysts at Bell Potter. Here's what the broker is saying about these stocks this week:
Aspen Group Limited (ASX: APZ)
Bell Potter remains very positive on this leading provider of quality affordable accommodation across residential, land lease, and holiday park communities.
Following a strong update last week, the broker has put a buy rating and improved price target of $2.75 on its shares.
Commenting on the update, the broker said:
Strong update from APZ early in FY25 is a positive indicator for the year and further runway ahead with both improving volume and margin. Indeed, APZ remains one of our highest conviction picks across our coverage universe. APZ's affordable market segment (c.40% of Aus households with income <$90k pa) as well as conservative underwriting place it in a strong position to deliver sales and settlements despite challenges others may be facing. Notwithstanding, APZ's valuation screens attractively relative to peers at a +9% premium to NTA (pre benefit of cash uplift from Burleigh & EGH stake) vs. c.+31-34% premium for LIC and INA respectively.
As for income, it now expects dividends per share of 10 cents in FY 2025 and then 10.3 cents in FY 2026. Based on the current Aspen share price of $2.40, this will mean dividend yields of 4.2% and 4.3%, respectively.
Dexus Convenience Retail REIT (ASX: DXC)
Another ASX dividend share that could be a buy is Dexus Convenience Retail REIT. It owns a quality portfolio of Australian service stations and convenience retail assets predominantly located on Australia's eastern seaboard.
Bell Potter is a fan of this one and has a buy rating and $3.30 price target on its shares. Last week, it said:
We also hosted a call with a leading private agency who were bullish on the convenience retail sub-sector, mirrored by the DXC update which re-iterated guidance and announced the divestment of 7 assets taking YTD disposals to an average -1.8% discount to book despite trading at a -17% discount to NTA.
In respect to income, the broker expecting the company to pay dividends per share of 21 cents in FY 2025 and FY 2026. Based on its current share price of $2.99, this implies dividend yields of 7% in both years.
