If you are wanting some new ASX dividend stocks for your income portfolio in July, then read on!
Listed below are a couple of highly rated stocks that brokers believe could offer a combination of decent upside and attractive dividend yields.
Let's see what they are saying about them:
Aurizon Holdings Ltd (ASX: AZJ)
The team at Macquarie is bullish on this rail freight operator and sees it as an ASX dividend stock to buy.
The broker believes that Aurizon's earnings are hitting a cyclical low and that it should be onwards and upwards from here. It said:
FY25 is peak pain with poor coal volumes and failing contracts. The former will bounce back. Above rails contract wins and with cost reductions creates the platform for earnings to recover. Cash yield of 11%, supports both the dividend and share buybacks.
In respect to income, Macquarie is forecasting dividends per share of 15.2 cents in FY 2025 and then 20.5 cents in FY 2026. Based on its current share price of $3.11, this equates to dividend yields of 4.9% and 6.6%, respectively.
Macquarie has an outperform rating and $3.39 price target on its shares.
Collins Foods Ltd (ASX: CKF)
Analysts at Morgans think that quick service restaurant operator Collins Foods could be an ASX dividend stock to buy.
The broker was impressed with last month's better than expected full year result. It was also pleased to see the company guide to strong growth in FY 2026. It feels the release of its guidance so early shows that management is confident in its outlook. It said:
CKF's FY25 result was materially better than expected with underlying NPAT 15% ahead of consensus mainly driven by stronger than guided margins. After a challenging 1H25, profitability materially improved in the 2H25 reflecting stronger SSS growth, cost deflation and operational efficiencies. Despite a weaker than expected trading update, CKF provided FY26 underlying NPAT guidance for low to mid-teens growth which was in line with consensus.
Importantly, guidance does not account for much of a recovery in SSS growth from the 1H26 trading update and is driven by continued cost deflation and operational efficiencies (self-help). In our view, CKF providing specific NPAT guidance this early in the year (for the first time) is a strong positive endorsement from management in the outlook.
In respect to dividends, Morgans is forecasting fully franked dividends of 27 cents per share in FY 2026 and then 31 cents per share in FY 2027. Based on its current share price of $9.21, this would mean dividend yields of 2.9% and 3.4%, respectively.
Morgans has a buy rating and $10.10 price target on its shares.
