There are plenty of ASX dividend shares for income investors to choose from on the local share market.
To narrow things down, let's take a look at a couple that Bell Potter has named on its Australian equities panel this month. These are the shares that its analysts believe "offer attractive risk-adjusted returns over the long term."
In addition, the broker highlights that it "considers the current macro-economic backdrop and investment environment, focusing on quality companies with proven track records, strong management teams and competitive advantages."
Let's see which ASX dividend shares the broker has given the thumbs up to this month. They are as follows:
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Amcor (ASX: AMC)
Packaging giant Amcor could be one of the best ASX dividend shares to buy now according to Bell Potter.
It thinks now is a good time to buy after the completion of its game-changing merger with Berry Global. It believes this merger will underpin double-digit earnings growth in the medium, which bodes well for its dividends.
Commenting on the company, the broker said:
The strategic merger with Berry Global strengthens AMC's market dominance in high margin, defensive segments including rigids, Healthcare and Home & Personal Care, and improves the resilience of business earnings. Trading at ~11.1x forward earnings with double-digit earnings growth projected over the next two years, we believe the current valuation offers good long-term value for investors.
As for income, Bell Potter is forecasting a dividend yield in the region of 5.8% over the next 12 months.
Elders Ltd (ASX: ELD)
Another ASX dividend share that could be a best buy according to the broker is Elders.
It is an Australian agribusiness company that provides agricultural goods and services to primary producers in Australia.
Bell Potter believes that the market is undervaluing a proposed acquisition. In addition, with the base business performing well and its shares trading on low earnings multiples, it thinks that Elders could be a cheap ASX dividend share to buy right now. It said:
We see value in ELD, particularly with the market appearing to undervalue the pending Delta acquisition. The base business is performing well with multiple growth drivers including recovery from drought conditions, system modernisations, and backward integration benefits. We are attracted to ELD's valuation, which is relatively cheap at 10.7x 12MF P/E, along with these potential upside catalysts and a strong dividend yield.
Speaking of which, Bell Potter estimates that Elders offers a fully franked FY 2026 dividend yield of 6.5%.
