The Australian share market is packed with income opportunities, but with so many ASX All Ords dividend stocks to choose from, it can be difficult to know where to start.
To help narrow things down, analysts have picked out three dividend stocks they believe are top buys right now.
Here's why they could be great options for income investors:
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Cedar Woods Properties Limited (ASX: CWP)
First up is Cedar Woods. It is one of Australia's leading property developers. Morgans is bullish on the the ASX All Ords dividend stock's outlook, highlighting that "looking forward, the signs are positive, with guidance for +10% NPAT growth in FY25, supported by favourable operating conditions in most key states."
Morgans expects this strong outlook to underpin healthy dividend growth. The broker is forecasting dividends per share of 27 cents in FY 2025 and then 33.3 cents in FY 2026. Based on the current share price of $5.39, this implies dividend yields of 5% and 6.2%, respectively.
Morgans has an add rating and $6.70 price target on Cedar Woods shares.
Regal Partners Ltd (ASX: RPL)
Bell Potter sees Regal Partners as a top ASX All Ords dividend stock to buy. It is an alternative investment manager with a strong track record of performance.
The broker believes Regal Partners' attractive valuation and robust investment returns could support solid dividend payments.
For example, its analysts are forecasting fully franked dividends of 14.6 cents per share in FY 2024 and then 18.1 cents in FY 2025. At the current share price of $3.88, this equates to dividend yields of 3.75% and 4.7%, respectively.
Bell Potter currently has a buy rating and $4.85 price target on Regal Partners shares.
Smartgroup Corporation Ltd (ASX: SIQ)
Last but not least is Smartgroup. It is a leading provider of employee benefits, fleet management, and software solutions. With over 400,000 salary packages and 64,000 novated leases under management, it has a strong, defensive business model.
Bell Potter likes the ASX All Ords dividend stock's valuation, stating that it is "well priced given a fwd P/E of ~14.5x, a defensive client base, [and] earnings tailwinds."
In respect to income, the broker expects this to underpin fully franked dividends of 53.3 cents in FY 2024 and 59.7 cents in FY 2025. Based on Smartgroup's current share price of $8.03, this implies generous dividend yields of 6.6% and 7.4%, respectively.
Bell Potter has a buy rating and $10.00 price target on Smartgroup shares.
