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For income-focused investors seeking opportunities in the ASX dividend stocks, analysts recommend considering the following dividend shares that are currently rated as buys:
- Stockland Corporation Ltd (ASX: SGP)
Citi analysts identify Stockland, a residential and land lease developer, and property manager, as a promising ASX 200 dividend share. The broker highlights Stockland's "strong medium-term growth outlook and cheap valuation," assigning it a buy rating with a $5.00 price target. Citi forecasts attractive dividend yields, expecting dividends per share of 27 cents in both FY 2024 and FY 2025. With the current Stockland share price at $3.99, this implies yields of 6.8% for both years.
- Transurban Group (ASX: TCL)
Citi also recommends Transurban, a company managing and developing toll road networks in Australia and North America, as an ASX 200 dividend share to buy. Citi emphasizes Transurban's inflation-linked price increases and defensive qualities, projecting a "strong EBITDA growth outlook (c.12% CAGR between FY24-FY26)." With a buy rating and a $15.90 price target, Citi anticipates dividends per share of 63.4 cents in FY 2024 and 64.6 cents in FY 2025. At the current Transurban share price of $12.99, this corresponds to yields of 4.9% and 5%, respectively.
- Westpac Banking Corp (ASX: WBC)
Ord Minnett sees Westpac as an appealing ASX 200 dividend share to buy, expressing confidence in significant upside potential for the bank's shares at current levels. The broker has assigned an accumulate rating and a $28.00 price target earlier this month. Regarding dividends, Ord Minnett expects fully franked dividends per share of $1.45 in FY 2024 and $1.51 in FY 2025. With the current Westpac share price at $21.10, this suggests dividend yields of approximately 6.9% and 7.15%, respectively.
These ASX 200 dividend shares present compelling opportunities for investors seeking both income and potential capital appreciation.
