The good news for income investors is that there are a large number of quality ASX dividend shares to choose from on the Australian share market.
Two that are rated as buys and tipped to offer big dividend yields are listed below. Here's what you need to know about these shares:
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Dalrymple Bay Infrastructure Ltd (ASX: DBI)
The first ASX dividend share that has been named as a buy is Dalrymple Bay Infrastructure.
It is an infrastructure company that operates the Dalrymple Bay Coal Terminal (DBCT) on a long term agreement.
Dalrymple Bay Infrastructure has been tipped to pay bumper dividends in the near term thanks to the strong demand for coal and its position as the cheapest export route-to-market for users within its Bowen Basin catchment region.
Morgans is a fan and has an add rating and $2.67 price target on its shares.
As for dividends, its analysts are forecasting dividends per share of approximately 21 cents in FY 2022 and FY 2023. Based on the latest Dalrymple Bay Infrastructure share price of $2.52, this will mean yields of 8.3%.
South32 Ltd (ASX: S32)
Another ASX dividend share that has been named as a buy is South32.
It is one of Australia's largest miners with exposure to a range of commodities including aluminium, copper, manganese, and nickel.
Citi is positive on South32 and has a buy rating and $5.00 price target on the mining giant's shares.
The broker recently boosted its earnings estimates to reflects "Citi's commodity team raising near term Cu/Al/Zn/HCC pricing."
Its analysts expect this to underpin fully franked dividends per share of 27 cents in FY 2023 and 32 cents in FY 2024. Based on the current South32 share price of $4.58, this will mean yields of 5.9% and 7%, respectively.
