Brokers say these ASX 300 dividend stocks are buys

Here's what analysts are saying about these income options.

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There are a lot of ASX 300 dividend stocks for income investors to choose from on the Australian share market.

To narrow things down, let's take a look at two that brokers have recently named as buys. They are as follows:

Accent Group Ltd (ASX: AX1)

Analysts at Morgans think that this footwear retailer's shares could be in the buy zone this week for income investors.

In response to its half year trading update, the broker held firm with its add rating and $2.40 price target. It commented:

AX1 provided a trading update for 1H25 performance which was broadly in line with consensus expectations with EBIT of ~$80m. Sales and margins were affected by a heavily promotional environment, particularly in the last six weeks.

Whilst gross margins were negatively impacted by promotional activity, and down 100bps year-on-year, the cost of doing business (CODB) appears to have been managed better than expected. We have made minor downward revisions to our forecasts for FY25/26. Our valuation is $2.40 and we retain our ADD recommendation.

In respect to dividends, Morgans is forecasting fully franked dividends of 13 cents per share in FY 2025 and then 15 cents per share in FY 2026. Based on the current Accent share price of $2.12, this equates to 6.1% and 7.1% dividend yields, respectively.

Perpetual Ltd (ASX: PPT)

Another ASX 300 dividend stock that could be a buy for income investors is diversified financial services company Perpetual.

That's the view of analysts at Bell Potter, which put a buy rating and $25.40 price target on its shares last week.

Commenting on the company, the broker said:

The company is continuing to engage with KKR in relation to the transaction. In our preview note we listed a number of alternative strategies, noting that while we expect the transaction may well be dead, there remain alternative options.

With the demerger of the CT + WM businesses in doubt, the short-term investment thesis aligns with the priorities identified by the new CEO to improve the performance and valuation of the asset management business. In the medium to longer term, there should be upside from growth through the global distribution and range of capabilities.

As for income, Bell Potter is forecasting partially franked dividends per share of 148 cents in FY 2025 and then 156 cents in FY 2026. Based on its current share price of $21.41, this equates to dividend yields of 6.9% and 7.3%, respectively.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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