Commonwealth Bank of Australia (ASX: CBA) shares have been in fine form over the past 12 months.
During this time, the banking giant's shares have risen an impressive 44%. This compares favourably to a gain of approximately 7% by the benchmark ASX 200 index.
While this is great for existing shareholders, it isn't for would-be buyers of the bank's shares. And especially those wanting a source of income.
For example, the team at Macquarie Group Ltd (ASX: MQG) is forecasting fully franked dividends of $4.91 per share in FY 2025 and then $4.98 per share in FY 2026. Based on its current share price of $174.98, this would mean dividend yields of just 2.8% and 2.85%, respectively.
In light of this, income investors may be better off looking elsewhere for income. But which ASX dividend shares? Listed below are three strong picks that analysts rate as buys:
Cedar Woods Properties Ltd (ASX: CWP)
Bell Potter thinks that property developer Cedar Woods could be an ASX dividend share to buy.
It expects the company to pay fully franked dividends of 28 cents per share in FY 2025 and then 32 cents per share in FY 2026. Based on the current share price of $6.45, this equates to dividend yields of 4.35% and 5%, respectively.
Bell Potter has a buy rating and $7.30 price target on its shares.
Endeavour Group Ltd (ASX: EDV)
Morgan Stanley has named Dan Murphy's and BWS owner Endeavour as an ASX dividend share to buy.
It is forecasting the company to pay fully franked dividends of 19 cents per share in FY 2025 and then 21 cents per share in FY 2026. Based on the current Endeavour share price of $4.08, this will mean dividend yields of 4.65% and 5.15%, respectively.
Morgan Stanley has an overweight rating and $5.30 price target on its shares.
Telstra Group Ltd (ASX: TLS)
Finally, telco giant Telstra could be an ASX dividend share to buy according to analysts at Goldman Sachs.
It believes the company is positioned to pay fully franked dividends of 19 cents per share in FY 2025 and then 20 cents per share in FY 2026. Based on its current share price of $4.69, this would mean dividend yields of 4.1% and 4.25%, respectively.
Goldman Sachs put a buy rating and $4.90 price target on the company's shares earlier this week.
