If you're on the lookout for new income investment options, then check out the ASX dividend shares listed below.
They have recently been named as buys and tipped to provide very attractive dividend yields. Here's what you need to know:
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QBE Insurance Group Ltd (ASX: QBE)
The first ASX dividend share that could offer some big yields in the near term is insurance giant QBE.
It has been tipped as a buy by analysts at Goldman Sachs. It currently has a buy rating and $18.09 price target on its shares.
The broker believes that rates "earned over the next 12 months will like be well ahead of moderating inflation to offset reinsurance / perils cost pressure and likely support improving underlying trends."
In respect to dividends, the broker is forecasting payouts of 42 US cents per share in FY 2023, 60 US cents per share in FY 2024, and 62 US cents per share in FY 2025. Based on the current QBE share price of $15.71, this will mean yields of 4.15%, 5.95%, and 6.15%, respectively.
Universal Store Holdings Ltd (ASX: UNI)
Another buy-rated ASX dividend share that could offer big yields in the coming years is Universal Store. It is the youth fashion retailer behind the Universal Store, Perfect Stranger, and Thrills brands.
Morgans is one of the brokers that has the equivalent of a buy rating on its shares. This is because it believes that "UNI's attractive array of medium-term growth prospects is undervalued at a single digit FY25 P/E."
The broker currently has an add rating and a $4.25 price target.
As for income, Morgans is expecting the retailer to pay fully franked dividends per share of 26 cents in FY 2024 and 29 cents in FY 2025. Based on the current Universal Store of $3.50, this will mean yields of 7.4% and 8.3%, respectively.
