Sunday, December 22, 2024

Buy these ASX dividend shares with 5% and 7% yields

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If you’re on the hunt for some juicy dividend yields, then you may want to check out the three ASX dividend shares listed below.

That’s because analysts have named them as buys and are tipping them to provide income investors with above-average dividend yields in the near term.

Here’s what you can expect from them:

Accent Group Ltd (ASX: AX1)

The first ASX dividend share that has been tipped to provide big yields is Accent Group. It is a retailer and distributor of performance and lifestyle footwear across over 800 stores in Australia and New Zealand and multiple online stores. Its store brands include HypeDC, Sneaker Lab, Platypus, Stylerunner, Subtype, and The Athlete’s Foot.

Bell Potter is forecasting fully franked dividends per share of 13 cents in FY 2024 and then 14.6 cents in FY 2025. Based on the latest Accent share price of $1.99, this represents dividend yields of 6.5% and 7.3%, respectively.

The broker has a buy rating and $2.50 price target on them.

Deterra Royalties Ltd (ASX: DRR)

Over at Morgan Stanley, its analysts think that Deterra Royalties could be a top ASX dividend share to buy. It is a mining royalties company, generating cash from operations such as Mining Area C, which is operated by BHP Group Ltd (ASX: BHP).

Morgan Stanley is forecasting the company to pay dividends of 32.7 cents in FY 2024 and then 39 cents in FY 2025. Based on the current Deterra Royalties share price of $4.58, this will mean yields of 7.1% and 8.5%, respectively.

The broker currently has an overweight rating and $5.60 price target.

Dexus Industria REIT (ASX: DXI)

A third ASX dividend share that has been named as a buy is Dexus Industria. It is a real estate investment trust with a focus on industrial warehouses.

Morgans is a fan of the company due to its belief that its “industrial portfolio remains robust with the outlook positive for rental growth.” In addition, it notes that “the development pipeline also provides near and medium-term upside potential and post asset sales there is balance sheet capacity to execute.”

The broker expects this to underpin dividends per share of 16.4 cents in FY 2024 and then 16.6 cents in FY 2025. Based on the current Dexus Industria share price of $2.97, this will mean dividend yields of 5.5% and 5.6%, respectively.

Morgans has an add rating and $3.18 price target on its shares.

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