Are you on the lookout for some new ASX dividend stocks for your income portfolio?
If you are, then you may want to check out the three stocks listed below that have been rated as buys by brokers and tipped to offer 5% to 7% dividend yields.
Here's what you need to know about these shares:
Image source: Getty Images
Accent Group Ltd (ASX: AX1)
The first ASX dividend stock that could be in the buy zone is Accent Group.
While its name may not be overly familiar to readers, the store brands it operates are likely to be. It is a leisure footwear retailer with over 800 stores across brands such as Hype DC, Platypus, and The Athlete's Foot.
The team at Bell Potter is expecting the company to be positioned to pay 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 $2.23, this represents dividend yields of 5.8% and 6.5%, respectively.
Bell Potter has a buy rating and $2.50 price target on its shares.
Healthco Healthcare and Wellness REIT (ASX: HCW)
Another ASX dividend stock that analysts are tipping as a buy is HealthCo Healthcare & Wellness REIT. It is a property company that is focused on investing in hospitals, aged care, childcare, government, life sciences and research, and primary care and wellness property assets.
Analysts at Bell Potter are also positive on HealthCo Healthcare & Wellness REIT. Particularly given its "significant scope for growth with an estimated $218 billion addressable market where an ageing and growing population should underpin long-term sector demand."
The broker is expecting this portfolio to support the payment of an 8.4 cents per share dividend in FY 2025 and then an 8.7 cents per share dividend for FY 2026. Based on the current Healthco Healthcare and Wellness REIT unit price of $1.21, this will mean dividend yields of 6.95% and 7.2%, respectively.
Bell Potter currently has a buy rating and $1.50 price target on its shares.
Inghams Group Ltd (ASX: ING)
A third ASX dividend stock that could be a buy according to analysts is Inghams. It is Australia's leading poultry producer and supplier.
Morgans thinks investors should be snapping up its shares while they are "undervalued." Especially given its leadership position in the poultry market and favourable consumer eating trends.
The broker expects this to underpin fully franked dividends of 22 cents per share in both FY 2024 and FY 2025. Based on the current Inghams share price of $3.98, this equates to dividend yields of 5.5% for both years.
Morgans has an add rating and $4.25 price target on its shares.
