Thankfully for income investors, there are a great number of ASX dividend stocks on the Australian share market that could be great candidates for an income portfolio.
Three that analysts are feeling bullish on are listed below. Here's what they are expecting from them:
Image source: Getty Images
Centuria Industrial REIT (ASX: CIP)
The first ASX dividend stock to look at is Centuria Industrial. It is Australia's largest domestic pure-play industrial property investment company with a focus on industrial assets.
UBS is a fan of the company and has a buy rating and a $3.71 price target on its shares.
In respect to income, the broker is expecting Centuria Industrial to pay dividends per share of 16 cents in FY 2024 and FY 2025. Based on the current Centuria Industrial share price of $3.20, this represents yields of 5% in both years.
Endeavour Group Ltd (ASX: EDV)
Another ASX dividend stock that could be a buy is BWS and Dan Murphy's owner Endeavour.
Goldman Sachs thinks its shares are in the buy zone. The broker highlights that its valuation appears cheap given its "clear market leading position." Goldman has a buy rating and a $6.40 price target on the company's shares.
As for dividends, the broker is forecasting fully franked dividends of approximately 21 cents per share in FY 2024 and 23 cents per share in FY 2025. Based on the current Endeavour share price of $5.40, this will mean yields of 3.9% and 4.25%, respectively.
Orora Ltd (ASX: ORA)
Another ASX dividend stock that Goldman Sachs rates as a buy is Orora. It is one of the world's leading packaging companies.
Goldman believes it is well-positioned to pay generous dividends in the coming years and sees huge upside potential for its shares. It has a buy rating and a $3.55 price target.
As for dividends, the broker is forecasting 13 cents per share dividends for FY 2024, FY 2025, and FY 2026. Based on the current Orora share price of $2.57, this will mean 5% yields for each year.
