If you are hunting for ASX dividend stocks to buy, then it could be worth checking out the two in this article.
That's because the team at Bell Potter is tipping them as buys right now. Let's see what the broker is saying about them:
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Accent Group Ltd (ASX: AX1)
The first ASX dividend stock to consider is Accent Group. It is a leading retailer in Australian leisure footwear through its large portfolio of store brands. This includes HypeDC, Platypus, The Athlete's Foot, Style Runner, and Sneaker Lab.
In addition, Accent is making moves in the youth fashion market with brands such as Glue Store and Nude Lucy, and recently announced a deal to roll out the Sports Direct brand in the ANZ region.
Bell Potter highlights the company's market leadership and expansion potential as reasons to buy. The broker said:
We continue to view AX1 as a key pick in our retail sector coverage given their scale as Australia's market leader, growth adjacencies in both footwear/apparel from exclusive partnerships & TAF channel conversion, and growing vertical brand strategy led by Nude Lucy.
As for dividends, Bell Potter has pencilled in fully franked payouts of 13.7 cents per share in FY 2025 and 15.6 cents per share in FY 2026. Based on its latest share price of $1.81, this equates to dividend yields of 7.6% and 8.6%, respectively.
The broker has a buy rating and $2.60 price target on Accent's shares.
Dexus Convenience Retail REIT (ASX: DXC)
Another ASX dividend stock that could be a buy according to the broker is Dexus Convenience Retail REIT.
It is a real estate investment trust (REIT) that owns a high-quality portfolio of Australian service stations and convenience retail assets. These are primarily located along the country's eastern seaboard.
Bell Potter highlights that the company trades at a deep discount to its net tangible assets (NTA). It said:
DXC remains one of our preferred ways to play externally managed REITs given its high distribution yield (c.7.1%), price discovery via asset sales (with >10% of the book recycled last 18m), yet trading at a -20% discount to NTA, despite NTA starting to regrow. With EV growth moderating last 6mths, combined with operator reinvestment into the sector (BP for ConvenienceX, Viva for OTR, i7 Holdings for 7/Eleven) and stabilising funding costs, we see a platform to grow from whilst being 'paid to wait' at attractive risk-adjusted pricing.
In respect to income, Bell Potter is forecasting dividends of 20.6 cents per share in FY 2025 and then 20.9 cents per share in FY 2026. Based on its current share price of $2.97, this equates to dividend yields of 6.9% and 7%, respectively.
Bell Potter has a buy rating and $3.30 price target on its shares.
