If you're looking for ASX dividend shares to buy, then you may want to check out the two listed below.
Both have recently been named as buys by analysts and tipped to offer big dividend yields. Here's why they rate them highly this month:
Charter Hall Retail REIT (ASX: CQR)
The first ASX dividend share to look at is Charter Hall Retail. It is a supermarket anchored neighbourhood and sub-regional shopping centre markets-focused property company.
Citi is positive on the company, noting that it has "defensive net property income growth despite rising interest rate profile." Another positive is that the broker highlights that "CQR's convenience retail and convenience long WALE portfolio is effective at passing through higher inflation."
The broker currently has a buy rating and $4.50 price target on its shares.
As for dividends, Citi is expecting the company to pay dividends of 26 cents per share in both FY 2023 and FY 2024. Based on the current Charter Hall Retail share price of $3.76, this will mean very generous 6.9% yields for investors.
South32 Ltd (ASX: S32)
Another ASX dividend share that has been named as a buy is South32. It is one of Australia's largest diversified miners. It produces a range of commodities including aluminium, copper, manganese, and nickel.
Morgans is positive on South32 and has an add rating and $5.60 price target on its shares.
The broker sees "attractive long-term value potential in S32 from de-risking of its growth portfolio, the potential for further portfolio changes, and an earnings-linked dividend policy."
Its analysts expect this to underpin fully franked dividends per share of 17 cents in FY 2023 and 22 cents in FY 2024. Based on the current South32 share price of $4.27, this will mean yields of 4% and 5.15%, respectively.
