2 blue chip ASX dividend shares to buy today

Woolworths Limited (ASX:WOW) and this ASX dividend share could be good options for income investors right now…

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Are you wanting to boost your income portfolio with some reliable ASX dividend shares in April?

Then you might want to take a look at the blue chip dividend shares listed below. Here's what you need to know about them:

BHP Group Ltd (ASX: BHP)

This mining giant could be a dividend share to buy. Thanks to its world class and low cost operations, BHP is well-placed to benefit from favourable commodity prices in FY 2021.

You only need to look at the Big Australian's half year results to see this. For the six months ended 31 December, BHP delivered a 15% increase in revenue to US$25.64 billion and a 21% jump in underlying EBITDA to US$14.7 billion.

This strong form led to BHP generating US$5.2 billion of free cash flow. And thanks to the strength of its balance sheet, the vast majority of this free cash flow was returned to shareholders through dividends.

One broker that is positive on the mining giant is Goldman Sachs. It currently has a buy rating and $53.40 price target on its shares.

Goldman is expecting a strong second half, leading to a full year dividend of $2.31 per share in FY 2021. After which, it is forecasting a $2.13 per share dividend in FY 2022. Based on the current BHP share price of $45.65, this equates to fully franked 5% and 4.6% dividend yields.

Woolworths Limited (ASX: WOW)

Another blue chip ASX dividend share to buy is Woolworths. Like BHP, Woolworths has been a strong performer in FY 2021. This has been driven by strong sales growth across its BIG W, BWS, Dan Murphy's, and Woolworths supermarket businesses.

Positively, the second half looks set to be just as positive thanks to the ongoing favourable redirection in consumer spending.

Macquarie appears confident the strong form will continue. In response to its half year update, the broker put an outperform rating and $44.50 price target on its shares. It was pleased with Woolworths' result and expects the company's investment in its online businesses to continue to drive further growth.

The broker is forecasting a ~$1.17 per share fully franked dividend in FY 2021. Based on the latest Woolworths share price, this represents a 2.9% dividend yield.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Woolworths Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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