As well as providing good dividend yields, the ASX dividend shares in this article have been tipped to rise materially from current levels by analysts.
Combined, this could mean very big returns for investors over the next 12 months. Here's what you need to know about them:
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Inghams Group Ltd (ASX: ING)
The team at Morgans remains positive on this leading poultry producer and supplier despite its disappointing half year results last month.
The broker likes Inghams due to its leadership position in the poultry market and its attractive valuation.
It expects the former to underpin fully franked dividends of 19 cents per share in both FY 2024 and FY 2025. Based on the current Inghams share price of $3.11, this equates to dividend yields of 6.1% for both years.
Morgans currently has an add rating and $3.66 price target on its shares. This implies potential upside of almost 18% for investors from current levels.
IPH Ltd (ASX: IPH)
Goldman Sachs thinks that IPH could be an ASX dividend share to buy for big returns. It is a leading intellectual property solutions company with operations across the globe.
The broker likes IPH due to its defensive earnings and organic growth potential. It expects this to support the payment of fully franked dividends per share of 37 cents in FY 2025 and then 40 cents in FY 2026.
Based on the current IPH share price of $6.18, this represents yields of 6% and 6.5%, respectively.
Goldman has a buy rating and $8.25 price target on IPH's shares. This suggests that upside of 33% is possible for investors from current levels.
Woodside Energy Group Ltd (ASX: WDS)
Analysts at Morgans are also tipping big returns from Woodside over the next 12 months and see the energy giant as an ASX dividend share to buy.
Last week, its analysts highlighted Woodside's "strong 1H24 earnings and dividend result comfortably beating Visible Alpha consensus estimates." In light of this, it continues to "see now as a good time to add to positions."
The note reveals that the broker is forecasting fully franked dividends of $1.93 per share in FY 2024 and $1.61 per share in FY 2025. Based on its current share price of $27.19 this will mean yields of 7.1% and then 5.9%.
Morgans has an add rating and $33.00 price target on Woodside's shares. This implies potential upside of 21% over the next 12 months.
