Are you on the lookout for some generous dividend yields? If you are, then read on!
That's because listed below are two ASX dividend stocks that brokers rate as top buys and expect some great dividend yields from in the near term. They are as follows:
Accent Group Ltd (ASX: AX1)
Accent Group could be an ASX dividend stock to buy according to analysts at Bell Potter.
It is the footwear-focused retailer behind popular store brands including HypeDC, Platypus, The Athlete's Foot, Style Runner, and Sneaker Lab.
Accent Group also has a growing footprint in the youth fashion market with Glue Store and Nude Lucy. In addition, it recently announced plans to launch the Sports Direct brand in the ANZ region.
Bell Potter has named the company as one of its key picks in the retail sector. It explains:
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 income, the broker is forecasting fully franked payouts of 13.7 cents per share in FY 2025 and then 15.6 cents per share in FY 2026. Based on its current share price of $1.85, this would mean dividend yields of 7.4% and 8.4%, respectively.
Bell Potter has a buy rating and $2.60 price target on Accent's shares.
Harvey Norman Holdings Limited (ASX: HVN)
Another ASX dividend stock that could be a buy according to Bell Potter is Harvey Norman. It is one of Australia's largest household and consumer goods retailers with a network of company-owned and franchised stores across the nation and internationally.
The broker is positive on Harvey Norman due partly to its belief that the retailer could be a big winner from the artificial intelligence (AI) megatrend. It explains:
We see HVN trading attractively at ~15x on a 1-year forward basis with multiple catalysts near/midterm such as improving sales trends in key markets assisted by a sizable upside from the AI driven upgrade cycle/replacement & spend shift to tech, gaining penetration in targeted regions in the UK in addition to the incremental earnings opportunities in its Property division as Australia's largest single owner with a $4.4b global portfolio.
In respect to income, Bell Potter is forecasting fully franked dividends of 25.4 cents per share in FY 2025 and then 28.1 cents per share in FY 2026. Based on the current Harvey Norman share price of $5.29, this will mean dividend yields of 4.8% and 5.3%, respectively.
Bell Potter has a buy rating and $6.00 price target on its shares.
