Analysts Anticipate Strong Yields from These ASX Dividend Stocks

2 min read | December 11, 2023 06:56 PM AEDT | By Team Kalkine Media

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For income-oriented investors seeking potential additions to their portfolios, two ASX dividend stocks have garnered attention. Despite belonging to different sectors, these stocks share an appealing feature—forecasted attractive dividend yields. Here's a closer look at these buy-rated shares:

BHP Group Ltd (ASX: BHP)

Overview: BHP stands as one of the world's largest mining companies, boasting a high-quality asset portfolio spanning various commodities and geographical regions.

Income Outlook: According to analysts at Macquarie, BHP is anticipated to offer investors attractive dividend yields in the near term. Projections include fully franked dividends of approximately $2.08 per share in FY 2024 and $2.52 per share in FY 2025. Based on the current BHP share price of $47.51, these forecasts translate to dividend yields of 4.4% and 5.3%, respectively.

Analyst Recommendation: Macquarie has assigned an outperform rating to BHP's shares and set a price target of $50.00.

Charter Hall Retail REIT (ASX: CQR)

Overview: Charter Hall Retail REIT is a property company specializing in supermarket-anchored neighbourhood and sub-regional shopping centres.

Income Outlook: Citi analysts express positivity about the company, citing its "undemanding" valuation and "defensive net property income growth despite a rising interest rate profile." In terms of dividends, Citi anticipates Charter Hall Retail REIT paying dividends of 26 cents per share in FY 2024 and 27 cents per share in FY 2025. Considering the current share price of $3.49, this implies yields of 7.45% and 7.7%, respectively.

Analyst Recommendation: Citi maintains a buy rating on Charter Hall Retail REIT's shares and has set a price target of $4.10.

Conclusion:

Both BHP and Charter Hall Retail REIT present appealing dividend prospects, making them potential considerations for income-focused investors. It's essential for investors to conduct thorough research and consider their overall investment strategy and risk tolerance before making investment decisions.

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