With interest rates potentially going to ease further in 2026, investors may increasingly look to the share market for income opportunities.
But which ASX dividend shares could be top picks for income investors in October?
Let's take a look at three shares that analysts are recommending to clients. They are as follows:
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Elders Ltd (ASX: ELD)
The first ASX dividend share that could be a buy in October is Elders. It is one of Australia's oldest agribusinesses, providing farm supplies, livestock trading, and real estate services to regional communities. Its diversified operations help shield earnings from seasonal volatility, while its long-standing relationships with farmers support recurring business.
Bell Potter is a fan of the company and thinks its shares are undervalued at current levels.
As for income, the broker is forecasting fully franked dividends of 36 cents per share in FY 2026 and then 43 cents per share in FY 2027. Based on its current share price of $7.48, this would mean dividend yields of 4.8% and 5.75%, respectively.
Bell Potter has a buy rating and $9.45 price target on its shares.
Accent Group Ltd (ASX: AX1)
Accent Group could be another ASX dividend share to buy in October. It is Australia's largest footwear retailer, with brands such as Platypus, Hype DC, and The Athlete's Foot under its umbrella. Its wide store network and strong online presence have helped it maintain market share in a competitive retail environment.
Bell Potter expects this network to support the payment of dividends of 7.8 cents per share in FY 2026 and then 9.2 cents per share in FY 2027. Based on its current share price of $1.31, this equates to dividend yields of 6% and 7%, respectively.
Bell Potter has a buy rating and $1.90 price target on its shares.
GrainCorp Ltd (ASX: GNC)
A third ASX dividend share to look at is GrainCorp. It is a leading agribusiness focused on grain storage, logistics, and processing. The company benefits from its critical infrastructure across eastern Australia, which positions it well to capture volumes during strong harvest seasons and from global food demand.
Ord Minnett is positive on the grain exporter and expects some attractive dividend yields in the near term. It is forecasting dividends per share of 38 cents in FY 2025 and then 28 cents in FY 2026. Based on its current share price of $9.06, this would mean dividend yields of 4.2% and 3.1%, respectively.
The broker has a buy rating and $9.95 price target on Graincorp's shares.
