Are you looking for some ASX dividend stocks to buy? If you are, then read on.
That's because the three listed below could be top picks right now according to brokers. Here's what they are expecting from them:
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Accent Group Ltd (ASX: AX1)
It has been a difficult year for Accent Group shares. The leading footwear retailer, which operates popular brands such as Hype DC, Platypus, and The Athlete's Foot, has come crashing down to Earth after consumer spending pressures weighed heavily on its performance.
The team at Bell Potter thinks that the selling has been overdone and created a buying opportunity for investors. Especially given its belief that falling interest rates could support an improvement in the retail sector.
In addition, it continues to forecast some attractive dividend yields in the near term. It is forecasting fully franked dividends of 7.4 cents per share in FY 2025 and then 9.5 cents per share in FY 2026. Based on its current share price of $1.34, this equates to dividend yields of 5.5% and 7.1%, respectively.
Bell Potter has a buy rating and $2.10 price target on its shares.
Cedar Woods Properties Ltd (ASX: CWP)
Another ASX dividend stock that could be a buy according to analysts is Cedar Woods. It is a leading Australian property developer with a focus on residential communities and commercial projects.
Bell Potter believes the company is well-positioned for sustained growth. This is thanks to its diversified development pipeline and Australia's chronic housing shortage.
The broker expects this to underpin 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 $7.04, this equates to dividend yields of 4% and 4.5%, respectively.
Bell Potter currently has a buy rating and $7.30 price target on its shares.
IPH Ltd (ASX: IPH)
Finally, Morgans thinks that IPH could be an ASX dividend stock to buy. It is an intellectual property (IP) services company operating a number of brands including AJ Park, Smart & Biggar, and Spruson & Ferguson.
The broker highlights that "IPH's valuation is undemanding (~10.8x FY25F PE), however investor patience is required given the delivery of organic growth looks to be the catalyst for a re-rating."
In respect to income, the broker is forecasting fully franked dividends of 35 cents per share in FY 2025 and then 36 cents per share in FY 2026. Based on the current IPH share price of $4.42, this will mean dividend yields of 7.9% and 8.1%, respectively.
Morgans has an add rating and $6.30 price target on its shares.
