Are you looking for new ASX dividend stocks to buy in May for passive income? If you are, then check out the three listed below.
They have recently been given buy ratings by analysts and are tipped to provide investors with attractive dividend yields in the near term. Here's what you need to know about these stocks:
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Adairs Ltd (ASX: ADH)
The first ASX dividend stock that could be a buy according to analysts is Adairs. It is the leading homewares and furniture retailer behind the Adairs, Focus on Furniture, and Mocka brands.
The team at Morgans is positive on the company. It highlights that Adairs is benefiting from a streamlined supply chain through its new national distribution centre and sees strong potential from its core Adairs brand, where sales were up over 15% early in the second half of FY 2025.
In respect to dividends, the broker is forecasting fully franked dividends of 14 cents per share in FY 2025 and then 17 cents in FY 2026. Based on the current share price of $2.61, that equates to very appealing yields of 5.4% and 6.5%, respectively.
Morgans currently has an add rating and $2.85 price target on its shares.
HomeCo Daily Needs REIT (ASX: HDN)
Another ASX dividend stock that gets the thumbs up from analysts is HomeCo Daily Needs REIT.
It is a real estate investment trust with a focus on convenience-based retail centres. Many of these properties are anchored by blue chip tenants like Woolworths Group Ltd (ASX: WOW) and Wesfarmers Ltd (ASX: WES).
Morgans is also very positive on HomeCo Daily Needs and expects some generous yields. It is forecasting dividends per share of 8.6 cents in both FY 2025 and FY 2026. Based on its current share price of $1.25, this would mean dividend yields of 6.7% for both years.
Morgans currently has an add rating and $1.33 price target on its shares.
Super Retail Group Ltd (ASX: SUL)
Finally, Super Retail could be an ASX dividend stock to buy according to analysts at Goldman Sachs.
Super Retail is the owner of popular retail chains Supercheap Auto, Rebel, BCF and Macpac.
Goldman Sachs likes Super Retail due largely to its vast loyalty program. It highlights that the "activation of 11.5mn members (77% sales) driving targeted marketing and increased member ARPU."
As for income, the broker is forecasting fully franked dividends of 64 cents per share in FY 2025 and then 66 cents in FY 2026. Based on its current share price of $13.44, this will mean dividend yields of 4.75% and 4.9%, respectively.
Goldman has a buy rating and $15.50 price target on its shares.
