Are you hunting some ASX dividend stocks to buy for your income portfolio?
If you are, then read on!
That's because listed below are four high-yield ASX dividend stocks that brokers are bullish on. Here's what you need to know about them:
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APA Group (ASX: APA)
Macquarie continues to rate APA Group as an ASX dividend stock to buy.
It is an energy infrastructure business that owns and operates a high quality portfolio of gas, electricity, solar and wind assets.
Macquarie is expecting this portfolio to support dividends per share of 57 cents in FY 2025 and then 57.5 cents in FY 2026. Based on the current APA Group share price of $6.53, this equates to 8.7% and 8.8% dividend yields, respectively.
Macquarie has an outperform rating and $8.02 price target on its shares.
Cedar Woods Properties Limited (ASX: CWP)
Another ASX dividend stock that analysts rate as a buy is Cedar Woods. It is one of Australia's leading property companies with a portfolio diversified by geography, price point and product type.
Cedar Woods' diversified product mix ranges from land subdivisions in emerging residential communities, to medium and high-density apartments and townhouses in vibrant inner-city neighbourhoods and supporting retail and commercial developments.
Morgans expects this portfolio to support the payout of dividends per share of 27 cents in FY 2025 and then 33.3 cents in FY 2026. Based on its current share price of $5.43, this equates to 5% and 6.1% dividend yields, respectively.
Morgans has an add rating and $6.70 price target on its shares.
Dexus Convenience Retail REIT (ASX: DXC)
The team at Bell Potter is tipping Dexus Convenience Retail REIT as an ASX dividend stock to buy this month.
It is the owner of a portfolio of service station and convenience retail assets.
In respect to income, the broker is forecasting dividends per share of 20.6 cents in FY 2025 and then 21 cents in FY 2025. Based on its current share price of $2.89, this would mean yields of 7.1% and 7.2%, respectively.
Bell Potter has a buy rating and $3.30 price target on its shares.
Smartgroup Corporation Ltd (ASX: SIQ)
Finally, Bell Potter is also feeling bullish about Smartgroup and sees it as an ASX dividend stock to buy.
Smartgroup is a leading provider of employee benefits, end-to-end fleet management, and software solutions.
Bell Potter believes the company is positioned to pay fully franked dividends of 53.3 cents in FY 2024 and then 59.7 cents in FY 2025. Based on its current share price of $7.81, this means potential dividend yields of 6.8% and 7.6%, respectively.
It currently has a buy rating and $10.00 price target on its shares.
