The Australian share market is home to a good number of shares offering attractive dividend yields.
But which ones should you buy over others? Here are two that analysts rate as buys right now:
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Bapcor Ltd (ASX: BAP)
The first ASX dividend share to look at is Bapcor. It is the company behind the Autobarn, Burson Auto Parts and Midas brands and Asia Pacific's leading provider of vehicle parts, accessories, equipment, service and solutions.
The team at Citi is positive on Bapcor despite the tough operating environment. In fact, its analysts see little risk around its FY 2022 earnings and upside to consensus FY 2023 net profit estimates of $140 million. This is due to its belief that Bapcor should benefit from DC efficiencies, cost outs, and acquisitions.
As for dividends, its analysts are forecasting fully franked dividends of 22 cents per share in FY 2022 and then 24 cents per share in FY 2023. Based on the current Bapcor share price of $6.68, this will mean yields of 3.3% and 3.6%, respectively.
The broker currently has a buy rating and $8.03 price target on the company's shares.
South32 Ltd (ASX: S32)
Another ASX dividend share to look at is this mining giant. It could be a top option for income investors that are not averse to investing in the resources sector.
This is due to the company's attractive valuation, strong free cash flow generation, and positive dividend outlook.
In respect to the latter, thanks to its exposure to a number of in-demand commodities such as aluminium, the team at Macquarie believe South32's shares will provide investors with big fully franked dividend yields in the coming years.
It is forecasting dividends per share of 34.5 cents in FY 2022 and 40.6 cents in FY 2023. Based on the current South32 share price of $3.53, this will mean yields of 9.8% and 11.5%, respectively.
Macquarie has an outperform rating and $6.00 price target on the miner's shares.
