If you're on the lookout for some generous dividend yields for your income portfolio, then it could be worth checking out the two ASX dividend shares listed below.
Here's what analysts are saying about them:
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Baby Bunting Group Ltd (ASX: BBN)
The team at Morgans thinks that this beaten down baby products retailer could be an ASX dividend share for income investors to buy.
While it was not overly impressed with its performance during the first half, it thinks investors should stick with it. Morgans has faith that management's strategy is the right one to turn things around and drive growth.
For now, the broker is forecasting fully franked dividends per share of 9.5 cents in FY 2024 and then 12.4 cents in FY 2025. Based on the current Baby Bunting share price of $1.60, this will mean dividend yields of 6% and 7.8%, respectively.
Morgans has an add rating and $2.00 price target on the company's shares.
Suncorp Group Ltd (ASX: SUN)
Over at Goldman Sachs, its analysts think that Suncorp could be an ASX dividend share to buy right now.
It is the insurance company behind brands including AAMI, Apia, Bingle, CIL Insurance, GIO, Shannons, Terri Scheer, and Vero.
Goldman likes the company due largely to "the tailwinds that exist in the general insurance market – i.e., very strong renewal premium rate increases and the benefit of higher investment yields."
The broker is expecting these tailwinds to underpin the payment of fully franked dividends per share of 75 cents in FY 2024 and 80 cents in FY 2025. Based on the current Suncorp share price of $14.19, this will mean yields of 5.3% and 5.6%, respectively.
Goldman has a buy rating and $15.00 price target on the company's shares.
