Top Picks: ASX Dividend Stocks Recommended by Experts

If you're on the lookout for robust ASX dividend stocks to bolster your income portfolio, analysts are pointing towards three promising options. Here's a breakdown of what brokers are saying about these shares and why they could be valuable additions to your investment strategy.

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1. Accent Group Ltd (ASX: AX1)


Bell Potter has identified Accent Group (ASX AX1) as an attractive ASX dividend stock to consider. The company, known for overseeing a multitude of footwear-focused retail store brands such as Stylerunner, HYPEDC, and Sneaker Lab, has garnered a buy rating and a $2.50 price target from the broker.


In terms of income, Bell Potter's projections for fully franked dividends per share indicate 12 cents in FY 2024 and a growth to 14.1 cents in FY 2025. With the current Accent share price standing at $1.83, this translates to impressive dividend yields of 6.7% and 7.9%, respectively.


2. Dalrymple Bay Infrastructure Ltd (ASX: DBI)


Citi analysts are bullish on Dalrymple Bay Infrastructure as an ASX dividend stock worth considering. Operating as the long-term operator of the Dalrymple Bay Coal Terminal, the company has earned a buy rating and a $3.00 price target from Citi.


Regarding dividends, Citi forecasts dividends per share reaching 20.6 cents in FY 2023 and further increasing to 22 cents in FY 2024. Based on the latest Dalrymple Bay Infrastructure share price of $2.70, investors can anticipate robust yields of 7.6% and 8.15%, respectively.


3. Stockland Corporation Ltd (ASX: SGP)


Citi also singles out Stockland as another appealing ASX dividend stock, driven by its "strong medium-term growth outlook and cheap valuation." The company, engaged in residential and land lease development, as well as retail, logistics, and office real estate property management, has secured a buy rating and a $5.00 price target from Citi.


In the realm of income, Citi projects dividends per share of 27 cents in both FY 2024 and FY 2025. With the current Stockland share price at $4.15, investors stand to gain attractive yields of 6.5% in both of these upcoming years.


In summary, these three ASX dividend stocks, endorsed by reputable analysts, present compelling opportunities for income investors seeking a mix of stability and robust returns. As always, thorough research and consideration of your investment goals are essential before making any financial decisions.
Location: Australia

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