Do you want a passive income boost? If you do, then the ASX dividend shares listed below that experts have named as buys could help you.
Here's why these could be passive income shares to buy now:
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Harvey Norman Holdings Limited (ASX: HVN)
Goldman Sachs thinks investors should seize on recent weakness in the Harvey Norman share price. Especially if you want some big dividends!
The broker believes the market is undervaluing Harvey Norman and notes that its shares are trading at just 6x FY 2024 estimated earnings ex-property. This compares to 14.5x earnings for its rival JB Hi-Fi Limited (ASX: JBH).
Goldman currently has a buy rating and $4.70 price target on the retailer's shares.
As for dividends, the broker is expecting fully franked dividends per share of 36 cents in FY 2023 and then 30 cents in FY 2024. Based on the current Harvey Norman share price of $3.71, this will mean yields of 9.7% and 8.1%, respectively.
Transurban Group (ASX: TCL)
Another ASX dividend share for investors to consider buying next week is toll road operator Transurban.
The team at Citi is positive on the company. It was pleased with its half-year results last month and expects the company to build on this in the second half and FY 2024. Particularly given its positive exposure to inflation. It commented:
We believe TCls' 7.5% FY23 DPS guidance beat was driven by a range of one-off factors, along with improved traffic recovery. While this is positive for near term, longer term estimates remain largely unchanged. However, CPI-linked increases come through with a delay indicating a strong growth path ahead and we forecast c.6% p.a. DPS CAGR from FY23-FY26.
Citi has a buy rating and $16.00 price target on its shares.
In respect to dividends, the broker is forecasting dividends per share of 58 cents in FY 2023 and then 60 cents in FY 2024. Based on the current Transurban share price of $13.94, this will mean yields of 4.2% and 4.3%, respectively.
