Are you looking for some dividend shares to boost your income portfolio? If you are, then you might want to look at the ones listed below.
Here's why these ASX dividend shares could be in the buy zone:
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Adairs Ltd (ASX: ADH)
The first dividend share to look at this month is Adairs.
This homewares and home furnishings retailer was on form in FY 2021. It delivered a 28.5% increase in sales to $499.8 million and the almost doubling of its earnings before interest and tax to $109.1 million.
The team at UBS are very positive on the company and believe the Adairs share price is trading at an attractive level. The broker currently has a buy rating and $5.40 price target.
UBS is also forecasting fully franked dividends of 19.6 cents per share in FY 2022 and then 29.9 cents per share in FY 2023. Based on the current Adairs share price of $4.05, this will mean yields of 4.8% and 7.3%, respectively.
Transurban Group (ASX: TCL)
Another ASX dividend share to look at this month is Transurban.
This leading toll road operator has a collection of important roads in Australia and North America such as CityLink in Melbourne and the Cross City Tunnel and Eastern Distributor in Sydney. It has also just announced an agreement to acquire the remaining stake in WestConnex from the NSW government.
While COVID-19 restrictions have been weighing on traffic volumes, the vaccine rollout is going well and Australia's reopening is now in sight. This is expected to lead to a sharp rebound in traffic volumes in 2022.
Ord Minnett is positive on the company. Its analysts currently have a buy rating and $16.20 price target on its shares. The broker is also forecasting dividends per share of 43 cents in FY 2022 and then 64 cents in FY 2023.
Based on the current Transurban share price of $14.16, this will mean yields of 3% and 4.5%, respectively.
