2 ASX dividend shares with generous yields in 2021

Commonwealth Bank of Australia (ASX:CBA) and this ASX dividend share are expected to provide generous yields for investors…

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Are you looking for income options for your portfolio in April? If you are, then you might want to consider the ASX shares listed below.

Here's why they could top options for income investors:

Accent Group Ltd (ASX: AX1)

Accent Group is a footwear-focused retail group which owns store brands such as HYPE DC and Platypus. 

It has been growing its earnings and dividends at a solid rate over the last few years. Pleasingly, this has even continued during the pandemic thanks to the popularity of its brands, its strong market position, and its growing online business.

One broker that believes the strong form can continue is Bell Potter. It currently has a buy rating and $2.65 price target on the company's shares.

The broker is also forecasting dividends of 11.9 cents per share in FY 2021 and 12.2 cents per share in FY 2022. This represents fully franked yields of 5% and 5.1%, respectively, over the next two years.

Commonwealth Bank of Australia (ASX: CBA)

Another ASX dividend share to consider is this banking giant. Although the pandemic hit the bank hard, it has come out the other side of it in a strong position.

In fact, it looks as though the provisions it made for COVID-19 were too large. As a result of its strong capital position, the bank has been tipped to return funds to shareholders in FY 2022.

In addition to this, with the housing market booming and responsible lending rules eased, Commonwealth Bank's outlook has improved greatly. This has put it in a position to start growing its dividend again over the coming years.

At present, UBS currently has a neutral rating and $90.00 price target on its shares. This compares to the current CBA share price of $87.99.

The broker is also forecasting fully franked dividends of $3.60 per share in FY 2021 and $4.05 per share in FY 2022. This will mean dividend yields of 4.1% and 4.6%, respectively, for income investors over the next two years.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group. 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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