Income investors hunting new portfolio additions in the new year might want to check out the three ASX dividend stocks named below.
That's because analysts are tipping them as buys and forecasting them to provide good and growing dividend yields in the near term.
Here's what they are expecting from these dividend stocks:
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IPH Ltd (ASX: IPH)
IPH could be an ASX dividend stock to buy. It is an international intellectual property (IP) services company with a network of member firms working throughout ten IP jurisdictions. Its client include Fortune Global 500 companies and other multinationals, public sector research organisations, SMEs, and professional services firms.
As demand for IP services generally remains robust throughout all economic cycles, IPH benefits from defensive earnings. This has allowed the company to lift its dividend each year for the past decade.
The team at Goldman Sachs believes that this dividend growth can continue. It is forecasting fully franked dividends of 36 cents per share in FY 2025 and then 39 cents per share in FY 2026. Based on the current IPH share price of $4.87, this represents yields of 7.4% and 8%, respectively.
The broker currently has a buy rating and $7.50 price target on its shares.
Smartgroup Corporation Ltd (ASX: SIQ)
Over at Bell Potter, its analysts think that Smartgroup could be an ASX dividend stock to buy. It is an employee management services provider, offering services such as salary packaging and fleet management to organisations across Australia.
It also benefits from defensive earnings. The broker highlights that "SIQ looks well priced given a fwd P/E of ~14.5x, a defensive client base, earnings tailwinds from the Electric Car Discount Bill."
It expects this to underpin fully franked dividends of 53.3 cents in FY 2024 and then 59.7 cents in FY 2025. Based on its current share price of $7.77, this means big potential dividend yields of 6.9% and 7.7%, respectively.
Bell Potter currently has a buy rating and $10.00 price target on its shares.
Universal Store Holdings Ltd (ASX: UNI)
Bell Potter also thinks that Universal Store could be an ASX dividend stock to buy now.
It is the youth fashion retailer behind the Universal Store, Perfect Stranger, and Thrills brands.
A recent note reveals that Bell Potter was pleased with the company's performance in FY 2024 and early in FY 2025. Looking ahead, it is positive on its outlook. This is due to "the store roll-out & brand growth strategy, margin expansion via private label product penetration (currently ~46%) and strong earnings trajectory."
In respect to income, the broker is forecasting fully franked dividends per share of 31.4 cents in FY 2025 and then 36.8 cents in FY 2026. Based on the current Universal Store share price of $7.76, this will mean yields of 4% and 4.75%, respectively.
Bell Potter currently has a buy rating and $8.85 price target on its shares.
