Discover These ASX Value Stars: 7% and 6% Dividend Yields Up for Grabs!

November 03, 2023 06:30 PM AEDT | By Team Kalkine Media

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Discover These ASX Value Stars: 7% and 6% Dividend Yields Up for Grabs! — Image source: shutterstock

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When seeking reliable annual passive income with the potential for share price growth, there are several ASX value shares that warrant attention. These value shares, often closely linked to Australia's economic health, have faced recent challenges due to increasing cost of living pressures. However, some quality companies present attractive opportunities, offering fully franked dividends and potential value.

Two ASX Value Shares to Consider

Harvey Norman Holdings Ltd (ASX: HVN):

Harvey Norman, an ASX 200 retail stock, has faced a challenging sales environment for home furnishings and white goods.
Over the past year, its shares have seen an 8% decline and currently trade at $3.70 per share.
With inflation receding and interest rates stabilizing, the medium to long-term outlook for Harvey Norman's share price appears promising.
Additionally, the company offers potential future dividend payouts.
In the latest update, Harvey Norman paid a 13-cent interim dividend on May 1. Eligible shareholders will receive the 12-cent final dividend on November 13.
This results in a full-year payout of 25 cents per share, offering a fully franked 6.8% dividend yield.

Westpac Banking Corp (ASX: WBC):

Westpac, an ASX 200 bank, has underperformed compared to its peers in the past year, facing competition in Australia's mortgage market.
Over the last 12 months, Westpac shares have declined by 10%, trading at $21.51 per share.
There is potential for this trend to reverse over the medium term, as it has shown positive momentum recently.
Westpac delivered a dividend of 64 cents per share on December 20, along with a 70-cent per share final dividend on June 27.
The full-year payout amounts to $1.34 per share, translating to a fully franked trailing yield of 6.2%.
Investors can expect the FY 2023 final dividend announcement on Monday, November 6, when the bank reports its full financial year results.

Both of these ASX value shares offer the possibility of reliable passive income and growth potential, making them worth considering for your investment portfolio

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