If you are wanting some new ASX dividend shares 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:
Dexus Convenience Retail REIT (ASX: DXC)
The Dexus Convenience Retail REIT could be an ASX dividend share for income investors to buy this month.
That's the view of analysts at Bell Potter, which are very positive on the service stations and convenience retail focused property company.
It was pleased with its results this month, and thinks that its shares are undervalued at current levels. It explains:
Well placed to deliver defensive and growing earnings and NTA. Transaction momentum YTD CY25 and valuations indicating growth resuming as better quality convenience retail assets start to enter the cap trans market and marginal CoD now c.5% or slightly below. DXC remains one of our preferred ways to play externally managed REITs given its high distribution yield (c.7%), price discovery yet discounted trading price (-15.5% discount to NTA, and -10% discount to BPe NAV).
Bell Potter also believes that some big dividend yields are coming in the near term. It is forecasting dividends of 20.9 cents per share in FY 2026 and then 21.6 cents per share in FY 2027. Based on its current share price of $3.05, this equates to dividend yields of 6.8% and 7%, respectively.
The broker has a buy rating and $3.45 price target on its shares.
Treasury Wine Estates Ltd (ASX: TWE)
Treasury Wine could be another ASX dividend share to buy according to brokers.
The team at Morgans thinks its shares are good value after pulling back materially this year. It recently said:
A deceleration of US Premium wine sales (particularly 19 Crimes) below US$15 per bottle, has seen TWE revise its FY25 EBITS guidance. The downgrade was minor at 1.3% and better than feared. TWE's Luxury portfolios appear to be performing well. However, focus is now on what impact a change in distributor in TWE's key US market, declining Premium US wine sales and the tariffs will have on FY26. We have revised our forecasts. While not without risk given industry and macro headwinds, TWE's trading multiples look far too cheap (FY25 PE of only 14.2x) and we maintain a BUY rating.
As for income, the broker is forecasting partially franked dividends of 39.5 cents per share in FY 2025 and then 42.3 cents per share in FY 2026. Based on its current share price of $7.72, this would mean dividend yields of 5.1% and 5.5%, respectively.
Morgans currently has a buy rating and $10.25 price target on its shares.
