There are a lot of options on the Australian share market for income investors to choose from.
To narrow things down, let's take a look at two ASX dividend shares that brokers think could be among the best to buy now.
Here's what they are recommending:
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GQG Partners Inc (ASX: GQG)
Morgans thinks this investment management company's shares could be undervalued at current levels.
In response to its improving investment performance, the broker recently put a buy rating and $2.03 price target on its shares.
But more importantly, Morgans is expecting double-digit dividend yields over its forecast period. It said:
GQG has provided a February FUM update. Whilst monthly net flows remained negative (-US$3.2bn), strong February investment performance (+US$10.5bn), which drove +4.5% FUM growth, made this a positive update in our view. We lift our GQG FY26F/FY27F EPS by +1%-+2%, driven by increased FUM forecasts based on better investment performance than we expected. Our PT rises to A$2.03 (previously A$1.89).
We acknowledge it remains early, but the improved January and February investment performance for GQG might mark the start of a business turnaround. We continue to see the stock as undervalued trading on 8x FY1 PE and an ~11% dividend yield. With >20% TSR upside, we move to a BUY rating, previously Accumulate.
Harvey Norman Holdings Ltd (ASX: HVN)
The team at Bell Potter thinks that retail giant Harvey Norman could be a top ASX dividend share to buy.
Last week, it put a buy rating and $6.70 price target on its shares.
As for income, it is forecasting fully franked dividend yields of 6.2% in FY 2026 and then 7% in FY 2027.
Commenting on the retailer, the broker said:
Our PT is based on a sum-of-the-parts valuation with a DCF methodology (WACC ~9%, TGR 3.5%, FY26-30e) for retail operations (exProperty) and the property bank on a fair value basis (as BPe for FY26e) assuming a broadly stable capitalisation rate for the remainder of FY26e.
While our preference skews to category specialists with balance sheet strength, we see HVN's well balanced geographical diversification somewhat offsetting the multi-category risks. Following the sharp sell-off in the name since Oct-25, HVN's 1-year forward P/E of ~13x (as per BPe) appears attractive considering the new store driven growth in international retailing (UK, Malaysia, Croatia), refit program in Australia and opportunities to grow their real estate portfolio as Australia's single largest owner in large format retail with a global portfolio of ~$4.6b.
