Top brokers say these high-yield ASX dividend shares are buys

Big dividend yields are expected from these buy-rated stocks.

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There are lots of good options for income investors to choose from on the Australian share market. But which ASX dividend shares could be top buys right now?

Two that analysts are tipping as buys for a nice income boost are listed below. Here's what they are saying about them:

Clearview Wealth Ltd (ASX: CVW)

The team at Morgans thinks that Clearview Wealth could be an ASX dividend share to buy this month.

It is a life insurance company that manages over $370 million of inforce premiums and has relationships with over 1,000 Australian Financial Services Licensees, representing over 4,000 financial advisers.

Morgans believes Clearview Wealth's shares are cheap at current levels given how it is well-placed to generate strong earnings growth in the coming years thanks to its transformation program. It said:

CVW's significant multiyear Business Transformation Program has, in our view, shown clear signs of driving improved growth and profitability in recent years. We expect further benefits to flow from this program in the near term, and we see CVW's FY26 key business targets as achievable. With a robust balance sheet, and with our expectations for ~21% EPS CAGR over the next three years, we see CVW's current ~11x FY25F PE multiple as undemanding.

As for income, the broker has pencilled in fully franked dividends of 3.6 cents per share in FY 2025 and 4.3 cents per share in FY 2026. Based on the current Clearview share price of 54 cents, this would mean dividend yields of 6.7% and 8%, respectively.

Morgans has an add rating and 81 cents price target on its shares.

Nickel Industries Ltd (ASX: NIC)

Another ASX dividend share that could be a good option for income investors is Nickel Industries.

It is a low-cost downstream nickel miner and processor which produces nickel for the stainless steel industry and electric vehicle supply chain from its Indonesian operations.

Bell Potter is positive on the company and thinks its shares are severely undervalued by the market. The broker explains:

NIC is the only pure-play producer of scale on the ASX providing exposure to the nickel price, with earnings diversified across Type 1 and Type 2 nickel. Its aggressive growth profile is fully funded, it is currently moving through the peak CAPEX phase which we forecast to drive strong earnings growth in CY25 and CY26. NIC has long-life assets with demonstrated ability to make money through the nickel price cycle while also sustaining a supportive (unfranked) dividend which we forecast to grow. At these levels it trades on undemanding valuation multiples.

In respect to dividends, the broker expects 5 cents per share dividends in both FY 2024 and FY 2025. Based on its current share price of 77 cents, this would mean dividend yields of 6.5%.

Bell Potter has a buy rating and $1.47 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 no position in any of the stocks mentioned. 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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