The good news for income investors is that there are a lot of dividend shares to choose from on the ASX.
But if you're not sure which ones to buy, don't worry because listed below are a couple of high-yield ASX dividend shares that come highly recommended.
Here's why analysts are tipping these shares as buys:
Image source: Getty Images
Charter Hall Retail REIT (ASX: CQR)
The first ASX dividend share that could be a buy is the Charter Hall Retail REIT.
This property company has a focus on retail assets. These are predominantly supermarket-anchored neighbourhood and sub-regional shopping centres.
The team Citi is positive on the company. This is due to its "defensive net property income growth despite rising interest rate profile." The broker also highlights its "undemanding" valuation.
As for income, Citi expects the company to pay dividends of 26 cents per share in FY 2024 and 27 cents per share in FY 2025. Based on the current Charter Hall Retail share price of $3.20, this will mean yields of 8.1% and 8.4%, respectively.
Citi currently has a buy rating and a $4.10 price target on its shares.
Dalrymple Bay Infrastructure Ltd (ASX: DBI)
Another ASX dividend share that has been named as a buy is Dalrymple Bay Infrastructure.
It is an infrastructure company and the long-term operator of the Dalrymple Bay Coal Terminal (DBCT).
Dalrymple Bay Infrastructure has been tipped by analysts at Morgans to pay big dividends in the near term. This is thanks partly to strong demand for coal and its position as the cheapest export route-to-market for users within its Bowen Basin catchment region.
Morgans is forecasting dividends per share of approximately 21 cents in FY 2024 and 22 cents in FY 2025. Based on the latest Dalrymple Bay Infrastructure share price of $2.76, this will mean very generous yields of 7.6% and 8%, respectively.
The broker has an add rating and a $2.84 price target on its shares.
