Are you looking for income options? If you are, you might want to check out the high quality ASX dividend shares listed below that brokers are rating as buys.
Here's what you need to know about them:
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Coles Group Ltd (ASX: COL)
The first ASX dividend share that could be a buy is supermarket operator Coles.
Morgans currently has an add rating and a $19.85 price target on its shares. It likes the company due to "the unwinding of local shopping trends" and its "strong Own Brand offering."
As for dividends, the broker is expecting fully franked 66 cents per share dividends in both FY 2023 and FY 2024. Based on the current Coles share price of $17.98, this will mean dividend yields of 3.7% in both years.
Rio Tinto Ltd (ASX: RIO)
Another ASX dividend share that could be a buy next week is mining giant Rio Tinto.
Goldman Sachs has the miner on its conviction list with a buy rating and a $126.90 price target. It likes the company due to its positive production growth outlook and "compelling relative valuation."
In respect to income, Goldman is expecting fully franked dividends per share of US$3.49 (A$5.35) in FY 2023 and then US$4.05 (A$6.21) in FY 2024. Based on the latest Rio Tinto share price of $109, this will mean yields of 4.9% and 5.7%, respectively.
Telstra Group Ltd (ASX: TLS)
A final ASX dividend share that could be a buy is Australia's leading telecommunication company Telstra.
Goldman Sachs is also positive on Telstra and has a buy rating and a $4.80 price target on its shares. Its analysts "believe the low risk earnings (and dividend) growth that Telstra is delivering across FY22-25, underpinned through its mobile business, is attractive."
As for dividends, the broker is forecasting fully franked dividends of 17 cents per share in FY 2023 and then 18 cents per share in FY 2024. Based on the current Telstra share price of $4.26, this equates to yields of 4% and 4.2%, respectively.
