Buy these ASX dividend shares with 5%+ yields: analysts

These dividend shares have been tipped to provide investors with big yields this year and next.

| More on:
A man in suit and tie is smug about his suitcase bursting with cash.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

If you're looking for a passive income boost, then you may want to check out the ASX dividend shares listed below.

Analysts have named these ASX shares as buys and tipped them to pay their shareholders attractive dividends this year and next. Here's what you need to know::

Healthco Healthcare and Wellness REIT (ASX: HCW)

The first ASX dividend share for income investors to consider is the Healthco Healthcare and Wellness REIT.

It is a health and wellness-focused real estate investment trust (REIT) that invests in properties such as hospitals, aged care, childcare, government, life sciences and research, and primary care and wellness properties.

Morgans is positive on the company and continues to forecast attractive dividend yields from its shares.

For example, Morgans is expecting dividends per share of 7.5 cents in FY 2023 and 7.8 cents FY 2024. Based on the current Healthco Healthcare and Wellness REIT unit price of $1.47, this will mean yields of 5.1% and 5.3% for investors.

Morgans has an add rating and $2.06 price target on its shares.

Rio Tinto Ltd (ASX: RIO)

Another ASX dividend share for income investors to look at is mining giant Rio Tinto.

It could be a top option for investors that are happy to invest in the mining sector. Particularly given the very attractive dividend yields its shares are tipped to provide in the coming years.

Goldman Sachs is very bullish and believes that Rio Tinto is a great option due to its "compelling valuation" and "return to production growth in 2023."

Combined with strong iron ore prices, its analysts expect this to lead to fully franked dividends per share of US$5.33 in FY 2023 and then US$5.98 in FY 2024. Based on current exchange rates and the latest Rio Tinto share price of $114.80, this will mean yields of 6.9% and 7.7%, respectively.

Goldman Sachs has a conviction buy rating and price target of $140.40.

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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

$100 Australian notes on top of each other.
Dividend Investing

These buy-rated ASX dividend stocks offer 7%+ yields

Analysts expect these buy-rated stocks to provide income investors with big yields.

Read more »

Happy man holding Australian dollar notes, representing dividends.
Dividend Investing

3 outstanding ASX dividend shares to buy next week

Analysts are tipping these shares to offer big returns over the next 12 months.

Read more »

A male oil and gas mechanic wearing a white hardhat walks along a steel platform above a series of gas pipes in a gas plant
Dividend Investing

Should I buy Santos shares for dividend income?

Santos shares have been steadily upping their dividends since 2020.

Read more »

A businessman lights up the fifth star in a lineup, indicating positive share price for a top performer
Dividend Investing

2 of the best ASX dividend shares to buy in December

Bell Potter rates these dividend shares very highly. Let's see why.

Read more »

Man holding Australian dollar notes, symbolising dividends.
Dividend Investing

Analysts expect 5% to 8% dividend yields from these ASX stocks

Here's why these dividend stocks could be great options for income investors today.

Read more »

Male hands holding Australian dollar banknotes, symbolising dividends.
Dividend Investing

5 ASX 200 shares with ex-dividend dates next week

Do you own any of these shares that are primed to pay out?

Read more »

A couple makes silly chip moustache faces and take a selfie on their phone.
Dividend Investing

Invested $5,000 in Telstra shares in 2021? Here's how much passive income you've already earned

Atop the share price gains, how much passive income have investors earned from their Telstra stock?

Read more »

Happy couple enjoying ice cream in retirement.
Dividend Investing

Buy Telstra and this ASX dividend stock now

Analysts are saying good things about these dividend stocks. Let's see why they are bullish.

Read more »