There are a lot of options out there for income investors to choose from.
To narrow things down, let's take a look at a handful of ASX dividend shares that brokers believe could be top picks right now.
Here's what they are recommending to clients:
Bell Potter thinks that the Dexus Convenience Retail REIT could be an ASX dividend share to buy. It has a buy rating and $3.35 price target on its shares.
The Dexus Convenience Retail REIT owns a portfolio of Australian service stations and convenience retail assets. Bell Potter believes these assets have positioned it to pay dividends of 20.6 cents per share in FY 2025 and then 20.9 cents per share in FY 2026. Based on its current share price of $2.93, this implies dividend yields of 7% and 7.1%, respectively.
The team at Bell Potter also thinks that Elders could be a buy. It has a buy rating and $9.10 price target on its shares.
Elders is a leading Australian agribusiness company that provides agricultural goods and services to primary producers.
Bell Potter is forecasting fully franked dividends of 36 cents per share in FY 2025 and 43 cents per share in FY 2026. Based on the current Elders share price of $6.26, this equates to dividend yields of 5.75% and 6.9%, respectively.
Macquarie thinks that GQG Partners could be an ASX dividend share to buy. It has an outperform rating and $2.90 price target on its shares.
GQG Partners is an investment boutique that manages global and emerging market equities for institutions, advisors, and individuals worldwide.
Analysts at Macquarie are expecting some very big dividend yields in the near term. They are forecasting dividends of 14.7 US cents (22.8 Australian cents) per share in FY 2025 and 16 US cents (24.8 Australian cents) per share in FY 2026. Based on its current share price of $1.95, this equates to massive dividend yields of 11.7% and 12.7%, respectively.
Over at UBS, its analysts think Transurban Group could be an ASX dividend share to buy. The broker has a buy rating and $14.85 price target on the toll road operator's shares.
As for income, the broker is forecasting dividends of 65 cents per share in FY 2025 and then 69 cents per share in FY 2026. Based on its current share price of $14.41, this equates to dividend yields of 4.5% and 4.8%, respectively.
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