The good news for income investors is that there are lots of ASX dividend shares to choose from on the Australian share market.
But which ones could be in the buy zone right now? Let's take a look at three that brokers are tipping as buys this week. They are as follows:
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ANZ Group Holdings Ltd (ASX: ANZ)
The team at UBS thinks that banking giant ANZ could be an ASX dividend share to buy this week.
In response to the big four bank's recent quarterly update, the broker put a buy rating and $32.00 price target on its shares. It was pleased with its update and believes the bank has the capacity to return excess capital to shareholders.
In the meantime, the broker forecasting partially franked dividends of $1.60 per share in FY 2024 and then $1.69 per share in FY 2025. Based on the current ANZ share price of $29.67, this will mean dividend yields of 5.4% and 5.7%, respectively.
SRG Global Ltd (ASX: SRG)
Another ASX dividend share that is being tipped as a buy is SRG Global. It is a diversified industrial services group that provides multidisciplinary construction, maintenance, production drilling and geotechnical services.
The team at Bell Potter is feeling very bullish about SRG Global and has a buy rating and $1.35 price target on its shares. It believes the company's "short-to-medium term outlook is reinforced by Government-stimulated construction activity."
It is expecting this to support the payment of fully franked dividends of 4.7 cents in FY 2024 and then 6.7 cents in FY 2025. Based on its current share price of 95.5 cents, this will mean dividend yields of 4.9% and 7%, respectively.
Stockland Corporation Ltd (ASX: SGP)
Finally, analysts at Citi think that Stockland could be an ASX dividend share to buy.
It is a diversified property company that develops, owns, and manages retail centres, business parks, logistics centres, office buildings, residential communities, and retirement living villages.
In response to its full year results last week, Citi put a buy rating and $5.30 price target on its shares. The broker was pleased with its result and guidance for FY 2025 and remains positive on its proposed acquisition of residential masterplanned communities assets from Lendlease (ASX: LLC). And while it doesn't think the ACCC will let all assets be acquired, it suspects that the majority of them will be.
The broker expects this to underpin dividends per share of 25.5 cents in FY 2025 and then 29 cents in FY 2026. Based on the current Stockland share price of $5.05, this will mean yields of 5% and 5.75% yields, respectively.
