If you're in the process of building an income portfolio, then it could be worth looking at the ASX dividend stocks named below.
That's because they have been named as buys and tipped to provide investors with attractive dividend yields. Here's why they could be good options for income investors this month:
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Accent Group Ltd (ASX: AX1)
The first ASX dividend stock for income investors to look at is Accent Group.
It is a footwear focused retailer with over 800 stores across popular brands such as Sneaker Lab, Hype DC, Platypus, Stylerunner, and The Athlete's Foot.
Bell Potter is a big fan of the company and believes it is well-positioned for growth in the coming years.
It expects this to support the payment of fully franked dividends per share of 13 cents in FY 2024 and then 14.6 cents in FY 2025. Based on the latest Accent share price of $2.10, this represents dividend yields of 6.2% and 7%, respectively.
Bell Potter also sees decent upside for its shares. It currently has a buy rating and $2.50 price target on them.
Cedar Woods Properties Limited (ASX: CWP)
Over at Morgans, its analysts think this property company could be a good ASX dividend stock to buy right now.
The broker believes that demand is increasing, which should be a boost to its margins in the near future. It notes that "CWP is a volume business and the demand for lots looks to be improving, with margins to invariably follow."
Morgans expects this to underpin dividends per share of 18 cents in FY 2024 and then 20 cents in FY 2025. Based on the current Cedar Woods Properties share price of $4.89, this equates to dividend yields of 3.7% and 4.1%, respectively.
Morgans has an add rating and $5.60 price target on its shares.
Coles Group Ltd (ASX: COL)
A third and final ASX dividend stock that could be a great option for income investors is supermarket giant Coles.
That's the view of analysts at UBS, which are feeling very positive about the company and its outlook.
The broker believes this will put Coles in a position to pay fully franked dividends per share of 70 cents in FY 2024 and then 74 cents in FY 2025. Based on its current share price of $18.20, this equates to yields of 3.85% and 4.1%, respectively.
UBS currently has a buy rating and $19.50 price target on the company's shares.
