If you have room in your income portfolio for a new addition or two, then check out the ASX dividend stocks 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 about these shares:
Aspen Group Limited (ASX: APZ)
The first ASX dividend stock that could be a buy is Aspen Group. It is a leading provider of quality affordable accommodation across residential, land lease, and holiday park communities.
Bell Potter has been impressed with its strong start to FY 2025 and has named it as one of its highest conviction picks. It 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 $2.48, this will mean dividend yields of 4% and 4.15%, respectively.
The broker has a buy rating and $2.75 price target on its shares.
Super Retail Group Ltd (ASX: SUL)
Another ASX dividend stock that could be a buy is Super Retail. It is the owner of popular store brands BCF, Supercheap Auto, Macpac, and Rebel.
Goldman Sachs is positive on the company and believes its shares are good value considering its positive growth outlook through to FY 2027. It said:
We retain our Buy rating on SUL on 1) activation of 11.5mn members (77% sales) driving targeted marketing and increased member ARPU 2) Robust store growth driving sales including investment in enhanced rCX (rebel) and superstore (BCF) formats 3) Capital mgmt potential with GSe FY25 Net cash ~A$174m. SUL is trading at a FY25E P/E of 15x vs LT avg of 13x, against 4% FY24-27e EPS CAGR.
As for income, Goldman expects Super Retail to be in a position to pay fully franked dividends per share of 68 cents in FY 2025 and then 73 cents in FY 2026. Based on its current share price of $16.42, this will mean yields of 4.1% and 4.4%, respectively.
The broker currently has a buy rating and $16.80 price target on its shares.
