Income investors are spoiled for choice on the Australian share market.
There are countless ASX dividend shares to choose from, but which ones could be buys for income investors?
Let's take a look at three that brokers are particularly bullish on. They are as follows:
Fortescue Ltd (ASX: FMG)
The team at Morgan Stanley thinks that Fortescue could be an ASX dividend share to buy.
It is of course one of the world's largest iron ore producers, with low cost operations across Australia that generate significant free cash flow.
The mining giant is well-known as one of the more generous dividend payers on the Australian share market. In fact, its shares regularly offer dividend yields in the 6% to 9% range.
The good news is that Morgan Stanley expects this to be the case again in the near term. It is forecasting fully franked dividends of $1.11 per share in FY 2025 and then $1.09 per share in FY 2026. Based on its current share price of $15.38, this would mean dividend yields of 7.2% and 7.1%, respectively.
Morgan Stanley has an overweight rating and $16.50 price target on its shares.
Sonic Healthcare Ltd (ASX: SHL)
Another ASX dividend share that could be a buy is Sonic Healthcare. It is a global pathology and diagnostic imaging provider with operations in Australia, Europe, and the United States.
Bell Potter is positive on the company and believes that a return to form is on the horizon. It notes that this is expected to be "driven by right sizing the business, the impact of acquisitions in FY24 and normalising organic operations post COVID."
As for income, the broker is expecting Sonic Healthcare to pay dividends per share of 107 cents in FY 2025 and then 109 cents in FY 2026. Based on its current share price of $26.72, this represents dividend yields of 4% and 4.1%, respectively.
Bell Potter has a buy rating and $33.70 price target on its shares.
Super Retail Group Ltd (ASX: SUL)
Finally, Super Retail could be an ASX dividend share to buy according to analysts at Citi. It is the owner of the Supercheap Auto, Rebel, BCF and Macpac brands.
Citi likes the resilience of its businesses and believes this leaves it well-placed to offer very attractive dividend yields in the near term.
The broker is forecasting fully franked dividends of $1.15 per share in FY 2025 and then $1.18 per share in FY 2026. Based on its current share price of $14.34, this would mean dividend yields of 8% and 8.2%, respectively.
Citi currently has a buy rating and $16.50 price target on its shares.
