Do you have room in your income portfolio for some new additions?
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 shares in the near term:
APA Group could be a top ASX dividend share to buy according to Macquarie. It is a leading Australian energy infrastructure business that owns a $26 billion portfolio of gas, electricity, solar and wind assets.
If you are looking for a reliable dividend payer, then it is hard to look beyond APA Group. It is on track to lift its dividend for a whopping 20th year in a row.
Macquarie then expects the run to continue. It 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 $6.69, this equates to 8.5% and 8.6% dividend yields, respectively.
Macquarie has an outperform rating and $8.13 price target on its shares.
Another ASX dividend share that could be a buy according to analysts is Elders. It is a leading Australian agribusiness that provides specialist knowledge and tailored advice across a broad range of agricultural products and services.
The company has been named as a top buy by the team at Bell Potter, which highlights its attractive valuation. The broker notes that Elders is currently trading at around 7.4 times its forecast FY 2025 EBITDA. This represents a discount to its long-term average multiple of 8.5 times.
As for income, Bell Potter is forecasting fully franked dividends of 41 cents per share in FY 2025 and 43 cents per share in FY 2026. Based on the current Elders share price of $7.56, this equates to dividend yields of 5.4% and 5.7%, respectively.
Bell Potter has a buy rating and $9.45 price target on its shares.
Analysts at Bell Potter are feeling bullish about retail giant Harvey Norman.
The broker likes the retailer due to its exposure to the artificial intelligence (AI) boom. It thinks that Harvey Norman will benefit from an AI driven major upgrade/replacement cycle of devices purchased during the COVID-19 pandemic.
In addition, its analysts "view 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."
The broker expects this to support the payment of 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 $5.18, this equates to attractive 5% and 5.5% dividend yields, respectively.
Bell Potter has a buy rating and $5.80 price target on its shares.
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