Are you looking for some big dividend yields for your income portfolio this month?
If you are, then it could pay to check out the three ASX dividend shares in this article.
They have been named as buys and tipped to provide income investors with dividend yields of 5% to 7%. Here's what you need to know about these buy-rated shares:
Image source: Getty Images
Dexus Convenience Retail REIT (ASX: DXC)
Dexus Convenience Retail REIT could be an ASX dividend share to buy in October according to analysts.
It is a property company that owns a portfolio of service station and convenience retail assets located across Australia but concentrated on the eastern seaboard. Its portfolio is leased to high quality tenants on attractive, long term leases.
Morgans likes the company and believes it is well-placed to pay some big dividends in the near term.
The broker has pencilled in dividends per share of 20.6 cents in FY 2025 and then 21.5 cents per share in FY 2026. Based on its current share price of $3.00, this implies a dividend yield of 6.9% and 7.2%, respectively.
Morgans currently has an add rating and $3.25 price target on its shares.
IPH Ltd (ASX: IPH)
Another ASX dividend share that could be a buy is IPH. It is an intellectual property (IP) services company with operations across the world.
Goldman Sachs is a big fan of the company. It believes that "IPH is well-placed to deliver consistent and defensive earnings with modest overall organic growth."
The broker expects this to underpin the payment of fully franked dividends of 37 cents per share in FY 2025 and then 40 cents per share in FY 2026. Based on the current IPH share price of $5.86 this represents yields of 6.3% and 6.8%, respectively.
Goldman Sachs currently has a buy rating and $8.25 price target on its shares.
Woodside Energy Group Ltd (ASX: WDS)
A final ASX dividend share that could offer investors a big dividend yield is energy giant Woodside.
That's the view of analysts at Morgans, which also believe that recent weakness has left its shares trading at an attractive level.
The broker is forecasting fully franked dividends of $1.28 per share in FY 2024 and then $1.54 per share in FY 2025. Based on its current share price of $26.06, this will mean yields of 4.9% and then 5.9%.
Morgans currently has an add rating and $35.00 price target on Woodside's shares.
