Are you looking for some top ASX dividend shares to add to your income portfolio? If you are, you might want to look at the ones listed below.
Here's what you need to know about these highly rated dividend shares:
Australia and New Zealand Banking GrpLtd (ASX: ANZ)
The first dividend share to consider is ANZ. It could be a top option in the sector right now thanks to its strong position in business banking. This gives ANZ some protection from the aggressive and margin crushing competition in retail banking for home loans.
The team at Morgans is very positive on the bank. The broker currently has an add rating and $31.00 price target on its shares. This compares favourably to the current ANZ share price of $27.27.
Morgans is also expecting the bank's dividend to grow nicely in the coming years. It has pencilled in fully franked dividends per share of $1.47 in FY 2022 and then $1.64 in FY 2023. This implies yields of 5.4% and 6%, respectively.
Charter Hall Social Infrastructure REIT (ASX: CQE)
Another dividend share to look at is the Charter Hall Social Infrastructure REIT. It is a real estate investment trust with a focus on social infrastructure.
Among the properties the company invests in are bus depots, police and justice services facilities, and childcare centres. These are properties with specialist use, limited competition, and low substitution risk.
Goldman Sachs is a fan of the company and has a conviction buy rating and $3.91 price target on its shares. It believes the REIT is positioned for a solid growth outlook thanks to its strong balance sheet. It notes that this provides it with headroom and liquidity to pursue investment opportunities, particularly government and healthcare sale and leaseback assets.
In addition, the broker is forecasting dividends per share of 16.9 cents in FY 2022 and 17.7 cents in FY 2023. Based on the current Charter Hall Social Infrastructure REIT share price of $3.82, this will mean yields of 4.4% and 4.6%, respectively.
