If you are looking for some new additions to your income portfolio, then it could pay to listen to what analysts are saying about the ASX dividend shares listed below.
Here's why they think these shares could be top picks for income investors this month:
Image source: Getty Images
Centuria Industrial REIT (ASX: CIP)
The first ASX dividend share to look at is Centuria Industrial REIT. It is one of Australia's largest pure-play industrial property trusts, offering investors exposure to a diversified portfolio of modern warehouses and logistics facilities.
With e-commerce and supply chain upgrades driving long-term demand for industrial space, it appears well positioned to benefit.
Bell Potter is positive about the company's outlook and expects attractive dividend yields in the near term. It is forecasting dividends per share of 16.3 cents per in FY 2025 and then 16.8 cents per share in FY 2026. Based on its current share price of $3.12, this equates to yields of 5.2% and 5.4%, respectively.
Bell Potter has a buy rating and $3.35 price target on its shares.
Endeavour Group Ltd (ASX: EDV)
Another ASX dividend share that analysts rate as a buy for income investors is Endeavour Group. It is the drinks giant behind Dan Murphy's, BWS, and Australia's largest network of pubs.
While trading conditions have been tough for Endeavour over the past 12 months, the underlying business remains resilient. It is underpinned by the essential, recurring nature of its revenue and a dominant market position.
Morgan Stanley believes this leaves it positioned 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 $4.14, this will mean dividend yields of 4.6% and 5.1%, respectively.
The broker currently has an overweight rating and $5.30 price target on its shares.
Rural Funds Group (ASX: RFF)
A final ASX dividend share that could be a buy for income investors is Rural Funds. It is a real estate investment trust (REIT) with a focus on Australian agricultural land.
The company leases properties to high-quality operators across sectors like cattle, almonds, macadamias, cropping, and vineyards. These long-term lease agreements typically include inflation-linked or market rent reviews, which gives great visibility on future earnings (and dividends).
Speaking of dividends, Bell Potter is forecasting payouts of 11.7 cents per share in FY 2025 and then 12.2 cents per share in FY 2026. Based on its current share price of $1.81, this represents dividend yields of 6.5% and 6.75%, respectively.
Bell Potter has a buy rating and $2.45 price target on its shares.
