Do you have room for some new additions to your income portfolio?
If you do, then it could be worth checking out the ASX dividend shares listed below that have recently been named as buys by analysts. Here's why they are bullish on them:
The first ASX dividend share to look at is Accent Group. It is the footwear retailer behind a large number of store brands such as HypeDC, Platypus, and The Athlete's Foot.
Analysts at Bell Potter are positive on Accent Group. The broker believes that the company's market leadership, strategic growth initiatives, and ongoing expansion into apparel will drive strong earnings growth.
It expects this to underpin fully franked dividends of 13.7 cents per share in FY 2025 and then 15.6 cents per share in FY 2026. Based on its latest share price of $1.84, this equates to attractive dividend yields of 7.4% and 8.5%, respectively.
Bell Potter currently has a buy rating and $2.60 price target on its shares.
Another ASX dividend share that could be a buy according to analysts is mining giant BHP.
Goldman Sachs is a fan of the Big Australian. This is due largely to its exposure to copper, which it expects to become a major contributor to earnings in the coming years.
Goldman highlights that it is "bullish on copper due to ongoing supply side challenges and increasing demand, and expect BHP's copper EBITDA to increase by ~US$5bn to ~US$13bn by FY26 (~45% of group EBITDA)."
This is expected to support dividends per share of 100 US cents in FY 2025 and then 93 US cents in FY 2026. Based on the current BHP share price of $38.19, this equates to fully franked dividend yields of 4.1% and 3.8%, respectively.
Goldman has a buy rating and $45.10 price target.
Finally, Cedar Woods could be an ASX dividend share to buy for income. It is a leading Australian property developer with a focus on residential communities and commercial projects.
The team at Bell Potter is also bullish on this name. The broker believes that the company's shares are undervalued at current levels, especially given its belief that Cedar Woods is positioned for sustained earnings growth.
As for income, Bell Potter expects Cedar Woods pay fully franked dividends of 27 cents per share in FY 2025 and then 31 cents per share in FY 2026. Based on its current share price of $5.23, this equates to dividend yields of 5.15% and 5.9%, respectively.
Bell Potter has a buy rating and $7.20 price target on its shares.
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