If you have room in your income portfolio for a new addition or two, then check out the ASX dividend shares listed below.
They have recently been named as buys by brokers and tipped to provide good dividend yields. Here's what you need to know:
Cedar Woods Properties Limited (ASX: CWP)
The first ASX dividend share for income investors to consider buying is Cedar Woods.
It is one of Australia's leading property companies with a portfolio that is diversified by geography, price point, and product type.
The team at Morgans is positive on the company. After being pleased with Cedar Woods' performance in FY 2024, the broker believes there's more to come this financial year. This is thanks to the positive operating conditions the company is experiencing in key markets. It said:
CWP announced FY24 NPAT of $40.5m, up 28% (vs pcp) and above both the guidance range of $36m – $39m and our prior forecast of $37.8m. The key contributor was the sale of the William Land Shopping Centre, with lot revenue and gross profit broadly stable. Looking forward, the signs are positive, with guidance for +10% NPAT growth in FY25, supported by favorable operating conditions in most key states.
In respect to income, Morgans is forecasting dividends per share of 27 cents in FY 2025 and then 31.7 cents in FY 2026. Based on its current share price of $5.51, this equates to 4.9% and 5.8% dividend yields, respectively.
The broker currently has an add rating and $6.50 price target on its shares.
Super Retail Group Ltd (ASX: SUL)
Over at Goldman Sachs, its analysts think that Super Retail could be an ASX dividend share to buy.
It is the owner of popular store brands BCF, Supercheap Auto, Macpac, and Rebel.
The broker is a fan of Super Retail due to its belief that it has both a space and sales productivity lever to pull. Goldman also highlights its attractive valuation. It explains:
While we believe that the nature of SUL's categories in Rebel Sports, Camping and Outdoor Wear is more discretionary compared to Electronics, Tech and Home, SUL is one of the few retailers in Australia that has both a space and sales productivity lever that we expect the company to be able to pull. It is trading on 14x FY25 P/E vs 4% FY24-27e EPS CAGR, a better value within our Discretionary Retail coverage vs. peers, in our opinion.
Goldman expects Super Retail to pay fully franked dividends per share of 67 cents in FY 2025 and then 73 cents in FY 2026. Based on its current share price of $15.62, this will mean yields of 4.3% and 4.7%, respectively.
The broker has a buy rating and $17.60 price target on its shares.
