Buy Harvey Norman and these ASX dividend shares in January

Analysts have good things to say about these income options in January.

| More on:
Excited couple celebrating success while looking at smartphone.

Image source: Getty Images

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

Do you have space in your portfolio for some new income stocks in 2025?

If you do, then the three ASX dividend shares listed below could be worth considering.

Here's what sort of dividend yields analysts are expecting from these buy-rated stocks:

APA Group (ASX: APA)

The team at Macquarie thinks that APA Group could be a great ASX dividend share to buy.

It is a leading Australian energy infrastructure company that owns a $26 billion portfolio of gas, electricity, solar and wind assets.

It is one of the most reliable dividend payers on the Australian share market with almost 20 years of dividend increases in a row.

Macquarie expects this run to continue and is forecasting dividend increases to 57 cents per share in FY 2025 and then 57.5 cents per share in FY 2026. Based on the current APA Group share price of $6.97, this equates to 8.2% and 8.25% dividend yields, respectively.

Macquarie has an outperform rating and $8.13 price target on its shares.

Harvey Norman Holdings Limited (ASX: HVN)

Another ASX dividend share that gets the thumbs up from analysts is retail giant Harvey Norman.

Bell Potter likes the company due to its exposure to the artificial intelligence (AI) megatrend. It notes that Harvey Norman's sales should benefit from an AI driven major upgrade/replacement cycle of devices purchased during the COVID-19 pandemic.

The broker also "view[s] HVN as supported by exclusive access from brands/chip manufacturers given large format stores globally which are attractive to global technology brands/suppliers when launching new products."

As for income, Bell Potter is forecasting fully franked dividends of 25.9 cents per share in FY 2025 and then 28.5 cents per share in FY 2026. Based on the current Harvey Norman share price of $4.67, this equates to attractive 5.5% and 6.1% dividend yields, respectively.

Bell Potter has a buy rating and $5.80 price target on the company's shares.

Super Retail Group Ltd (ASX: SUL)

A third ASX dividend share that could be a buy according to analysts is Super Retail. It is the retailer behind the BCF, MacPac, Supercheap Auto, and Rebel store brands.

Goldman Sachs likes Super Retail. It notes that "SUL is one of the few retailers in Australia that has both a space and sales productivity lever that we expect the company to be able to pull."

The broker believes this will underpin fully franked dividends per share of 67 cents in FY 2025 and then 73 cents in FY 2026. Based on its current share price of $15.18, this will mean yields of 4.4% and 4.8%, respectively.

Goldman Sachs has a buy rating and $17.60 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 positions in and has recommended Goldman Sachs Group, Macquarie Group, and Super Retail Group. The Motley Fool Australia has positions in and has recommended Apa Group, Harvey Norman, Macquarie Group, and Super Retail Group. 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

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

Own IVV ETF or other iShares ASX ETFs? Next dividends and DRP prices revealed…

BlackRock has announced the next lot of dividends for its iShares ETFs, as well as the DRP prices.

Read more »

A woman sits in a cafe wearing a polka dotted shirt and holding a latte in one hand while reading something on a laptop that is sitting on the table in front of her
Dividend Investing

How are these passive income investors earning a 7.5% dividend yield on their surging CBA shares?

CBA shares are proving more lucrative for some passive income investors than others.

Read more »

A couple cheers as they sit on their lounge looking at their laptop and reading about the rising Redbubble share price
Dividend Investing

3 excellent ASX dividend shares to buy with $2,500

Brokers think these shares could be in the buy zone for income investors.

Read more »

A woman sits in a quiet home nook with her laptop computer and a notepad and pen on the table next to her as she smiles at information on the screen.
Opinions

2 top ASX passive income stocks to buy with $5,000 today

I think these leading ASX passive income shares will keep delivering market beating yields in FY 2026.

Read more »

A person is weighed down by a huge stack of coins, they have received a big dividend payout.
ETFs

Own the VanEck Wide Moat ETF (MOAT)? Get ready for a monster dividend

Investors are in line for a single dividend worth nearly 6%.

Read more »

A businessman looking at his digital tablet or strategy planning in hotel conference lobby. He is happy at achieving financial goals.
Dividend Investing

2 dirt cheap ASX dividend stocks to buy in July

Here are a couple of cheap stocks that analysts think would be top picks for income investors.

Read more »

A woman standing in a blue shirt smiles as she uses her mobile phone.
Dividend Investing

Here's the Telstra dividend forecast from a top analyst through to 2029

Can shareholders call on this stock for strong dividend income?

Read more »

A man holding a cup of coffee puts his thumb up and smiles while at laptop.
Dividend Investing

Why these ASX dividend shares with 4% to 8% yields could be strong buys

Let's see why analysts rate these shares as buys.

Read more »