Experts say these top ASX dividend shares are buys

Experts have named these top dividend shares as buys…

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If you're looking for dividend shares to buy, then the two listed below could be worth checking out.

Both have been named as buys by analysts recently and tipped to provide very attractive yields. Here's what you need to know about them:

A woman wearing glasses and a black top smiles broadly as she stares at a money yarn full of coins representing the rising JB Hi-Fi share price and rising dividends over the past five years

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Accent Group Ltd (ASX: AX1)

The first ASX dividend share that has been tipped as a buy is footwear retailer Accent.

This is due to its attractive valuation and expectations that the company is well-placed to bounce back from a very difficult 12 months.

The team at Morgans recently commented:

AX1's renewed focus on selling at full price will, in our view, support a recovery in the gross profit margin in FY23 back towards historical averages. We welcome AX1's moderation of the pace of its store rollout in favour of a more selective expansion strategy focused on return on investment. We see AX1 as undervalued at the current share price.

Morgans is also expecting some attractive dividend yields from the company's shares. It is forecasting fully franked dividends of 9 cents per share in FY 2023 and 11 cents per share in FY 2024. Based on the current Accent share price of $1.36, this will mean yields of 6.6% and 8.1%, respectively.

The broker also sees plenty of upside for its shares with its add rating with a $2.00 price target.

HomeCo Daily Needs REIT (ASX: HDN)

Another ASX dividend share that has been named as a buy for income investors is HomeCo Daily Needs.

HomeCo Daily Needs is a property investment company with a focus on metro-located, convenience-based assets across neighbourhood retail, large format retail, and health and services.

Goldman Sachs is a big fan of the company and believes its shares are cheap at the current levels. Particularly given its positive outlook due to the shift to omni channel retailing.

The broker commented:

We continue to believe HDN is undervalued at its current valuation given its diversified tenant base, and see it as well positioned to benefit from the shift to omni channel retailing, with additional external growth opportunities to drive earnings growth over the medium-term.

Its analysts also see potential for some big dividend yields in the coming years. The broker is forecasting dividends of 8.3 cents per share in FY 2023 and 8.5 cents per share in FY 2024. Based on the current HomeCo Daily Needs REIT unit price of $1.26, this will mean big yields of 6.6% and 6.75%, respectively.

Goldman currently has a buy rating and $1.63 price target on HomeCo Daily Needs' shares.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. 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 Scott Phillips.

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