4 ASX shares to buy for dividend income

Analysts think these income stocks are in the buy zone this week. Let's see what they offer.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Are you looking for ASX dividend shares to buy for an income boost?

If you are, then it could be worth looking at the four named below that analysts are tipping as buys. Here's what they are forecasting from them in the near term:

Woman calculating dividends on calculator and working on a laptop.

Image source: Getty Images

Centuria Industrial REIT (ASX: CIP)

The first ASX dividend share to look at is Centuria Industrial. It is Australia's largest domestic pure play industrial property investment company. Its portfolio comprises 89 high-quality, fit-for-purpose industrial assets worth a collective $3.8 billion. Theses assets are situated in key in-fill locations and close to key infrastructure.

UBS is positive on the company and has a buy rating and $3.55 price target on its shares.

As for dividends, the broker is forecasting dividends per share of 16 cents in FY 2025 and then 17 cents in FY 2026. Based on the current Centuria Industrial share price of $3.35, this represents dividend yields of 4.8% and 5.1%, respectively.

Inghams Group Ltd (ASX: ING)

Over at Morgans, its analysts think investors should be snapping up this poultry producer's shares while they are down.

The broker has an add rating and $3.66 price target on its shares. It likes Inghams due to its leadership position in the poultry market.

Morgans expects this to support the payments of fully franked dividends of 19 cents per share in both FY 2024 and FY 2025. Based on the current Inghams share price of $3.03, this equates to dividend yields of 6.3% for both years.

Lottery Corporation Ltd (ASX: TLC)

Another ASX dividend share that could be a buy is Lottery Corporation. It is the company behind lottery brands such as OZ Lotto, Powerball, Keno, and The Lott.

Citi is feeling bullish about Lottery Corporation and has a buy rating and $5.60 price target on its shares. It is bullish due to its defensive qualities and recent price increases.

The broker expects to underpin a 19 cents per share dividend in both FY 2025 and FY 2026. Based on the latest Lottery Corporation share price of $5.08, this will mean fully franked yields of 3.75%.

Universal Store Holdings Ltd (ASX: UNI)

Finally, analysts at Morgans think that this youth-focused fashion retailer could be an ASX dividend share to buy.

It is expecting another strong result from the Universal Store and Perfect Stranger owner in FY 2025. As a result, it has put an add rating and $8.10 price target on its shares.

In respect to income, it is expecting fully franked dividends per share of 33 cents in FY 2025 and then 37 cents in FY 2026. Based on the current Universal Store share price of $6.77, this will mean yields of 4.9% and 5.5%, respectively.

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in Universal Store. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Lottery. The Motley Fool Australia has recommended Lottery. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

An older couple use a calculator to work out what money they have to spend.
Dividend Investing

100,720 shares of this high-yield ASX dividend stock pay income equal to the Age Pension

Generating a full income from dividends sounds appealing, but how much do you actually need?

Read more »

Australian dollar notes in businessman pocket suit, symbolising ex dividend day.
Dividend Investing

2 ASX shares with dividend yields above 7%

Large yields could be very appealing right now.

Read more »

A woman has a thoughtful look on her face as she studies a fan of Australian 20 dollar bills she is holding on one hand while he rest her other hand on her chin in thought.
Dividend Investing

1 ASX dividend stock down 50% I'd buy

This ASX dividend stock has been under pressure. But looking ahead, there are signs the story could be starting to…

Read more »

Man holding out $50 and $100 notes in his hands, symbolising ex dividend.
Share Market News

How much do I need to invest in ASX shares to earn a $500 monthly passive income?

A $500 per month passive income is more achievable than you'd think.

Read more »

Growth of ASX share price represented by tiny beans stalk shooting up into the sky
Dividend Investing

3 ASX dividend shares I'd hold through anything

This trio has scale, resilience, and cash flow to endure market cycles.

Read more »

Two players on a field pump their fists in the air, indicating two of the best
Dividend Investing

Bell Potter names the best ASX dividend shares to buy

The broker has named these shares as best buys this month.

Read more »

Man holding out Australian dollar notes, symbolising dividends.
Dividend Investing

Down 40%: These high-yield ASX dividend shares are rated as buys

Brokers expect these buy-rated shares to offer 6% to 11% dividend yields.

Read more »

A young bearded man wearing a white t-shirt with a yellow backdrop holds up his arms to his chest and points to the camera in celebration of ASX shares rising today
Dividend Investing

1 ASX dividend stock up 20% that I'd hold through any market

I think this classic defensive ASX dividend company is a no-brainer buy and long-term hold.

Read more »