Buy ANZ and these ASX dividend shares

Analysts have good things to say about these income options.

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Are you on the hunt for some new ASX dividend shares for your income portfolio?

If you are, then you may want to check out the three shares listed below that have been rated as buys by brokers.

Here's what you need to know about these shares:

ANZ Group Holdings Ltd (ASX: ANZ)

Analysts at Goldman Sachs think that banking giant ANZ could be an ASX dividend share to buy.

The broker is positive on the bank due largely to its productivity potential. It believes it is "seeing evidence of ANZ's ability to derive productivity benefits (A$201 mn in 1H24) and management noted there remains a large pipeline available which can be used to offset cost inflation."

In addition, the broker is encouraged by "the improving profitability of ANZ's Institutional business."

It believes this leaves the bank well-placed to pay partially franked dividends of $1.66 per share in FY 2024, FY 2025, and FY 2026. Based on the current ANZ share price of $28.22, this will mean dividend yields of 5.9%.

Goldman Sachs has a buy rating and $29.42 price target on the bank's shares.

Inghams Group Ltd (ASX: ING)

Analysts at Morgans think that Inghams could be an ASX dividend share to buy right now. It is Australia's leading poultry producer and supplier.

The broker believes that "ING remains undervalued trading on a low PE multiple, especially for what is a market leader, with a vertically integrated operating model and assets that are difficult and costly to replicate."

It also expects attractive fully franked dividend yields from its shares in the coming years. Morgans is forecasting fully franked dividends of 22 cents per share in both FY 2024 and FY 2025. Based on the current Inghams share price of $3.75, this will mean dividend yields of 5.9%.

Morgans has an add rating and $4.25 price target on its shares.

Transurban Group (ASX: TCL)

Finally, analysts at UBS are tipping Transurban as an ASX dividend share to buy this month. It is one of the world's leading toll road operators.

The broker remains positive on Transurban following the release of its results this month. It expects traffic volume growth and margin expansion to underpin some generous dividend payments in the coming years.

The broker is expecting Transurban to pay dividends per share of 65 cents in FY 2025 and then 69 cents in FY 2026. Based on the current Transurban share price of $13.04, this will mean yields of 5% and 5.3%, respectively.

UBS has a buy rating and $14.60 price target on its shares.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Transurban Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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