Fortunately for income-focused investors, the Australian share market offers many dividend-paying stocks.
But which ones are buys? To narrow things down, here are five ASX dividend shares that analysts rate highly.
Here's why they could be good options for a $5,000 investment:
Centuria Industrial REIT (ASX: CIP)
UBS thinks that Centuria Industrial REIT could be a buy. It is Australia's largest domestic industrial property investment company, with a portfolio of high-quality assets in key metropolitan areas.
The broker is forecasting dividends of 16 cents per share in FY 2025 and 17 cents per share in FY 2026. Based on its current share price of $2.93, this will mean dividend yields of 5.5% and 5.8%, respectively.
UBS has a buy rating and $3.80 price target on this ASX dividend share.
Eagers Automotive Ltd (ASX: APE)
Another ASX dividend share being tipped as a buy is Eagers Automotive. It is a leading auto retailer with over 250 locations across Australia and New Zealand. It represents all 19 of the top 20 best-selling car brands in Australia and nine of the top ten luxury brands.
Bell Potter is a fan and is forecasting fully franked dividends of 66.5 cents per share in FY 2024 and then 69 cents per share in FY 2025. Based on a share price of $12.96, this represents dividend yields of 5.1% and 5.3%, respectively.
Bell Potter has a buy rating and $13.65 price target on its shares.
Harvey Norman Holdings Limited (ASX: HVN)
Bell Potter is also positive on retail giant Harvey Norman. It believes the company is well-positioned to benefit from an AI-driven device upgrade cycle.
The broker expects this to underpin fully franked dividends of 25.9 cents per share in FY 2025 and 28.5 cents per share in FY 2026. With a share price of $5.13, this will mean dividend yields of 5% and 5.5%, respectively.
The broker has a buy rating and a $5.80 price target on its shares.
HomeCo Daily Needs REIT (ASX: HDN)
Over at Morgans, its analysts have named HomeCo Daily Needs REIT as an ASX dividend share to buy. It is a property company focused on neighbourhood and large-format retail properties.
Morgans is forecasting dividends of 8.5 cents per share in FY 2025 and 8.7 cents per share in FY 2026. Based on its current share price of $1.21, this would mean dividend yields of 7% and 7.3%, respectively.
The broker has an add rating and a $1.36 price target on its shares.
Treasury Wine Estates Ltd (ASX: TWE)
Finally, Treasury Wine could be an ASX dividend share to buy with the $5,000. It is the wine giant behind popular brands such as Penfolds, Wolf Blass, and 19 Crimes.
Goldman Sachs is very positive on the company, particularly given the strength of the Penfolds brand and the removal of Chinese tariffs on Australian wine.
The broker expects partially franked dividends of 42 cents per share in FY 2025 and 49 cents in FY 2026. Based on its current share price of $10.70, this would mean dividend yields of 3.9% and 4.6%, respectively.
Goldman Sachs has a buy rating and $12.90 price target on its shares.
