If you're looking for ASX dividend shares offering 6%+ dividend yields, analysts have identified three stocks that could be great additions to an income portfolio.
Here's why these dividend shares are being tipped as buys:
First on the list is Dexus Convenience Retail REIT. It is a real estate investment trust (REIT) that owns a high-quality portfolio of Australian service stations and convenience retail assets, primarily located along the country's eastern seaboard.
Bell Potter is bullish on the stock, noting that while it anticipates a slight decline in asset values, the market is currently pricing the company at a 20% discount to net tangible assets (NTA) and a 10% discount to its estimated net asset value (NAV). The broker believes this discount is excessive given the defensive nature of the sector.
Bell Potter has a buy rating and $3.30 price target on Dexus Convenience Retail REIT shares.
In terms of income, it forecasts dividends per share of approximately 21 cents in both FY 2025 and FY 2026. Based on its current share price of $2.82, this implies dividend yields of 7.4%.
Next up is GQG Partners. It is a global investment boutique managing active equity portfolios. The company currently boasts US$153 billion in funds under management (FUM).
Goldman Sachs believes the market is undervaluing GQG's shares, particularly given the limited impact of its investments in the troubled Adani Group. The broker points to strong net fund flows, robust earnings growth, and an attractive valuation compared to peers as reasons for its optimism.
Goldman forecasts dividends per share of 14 US cents (22.6 Australian cents) in FY 2025 and 15 US cents (24.3 Australian cents) in FY 2026. Based on the current share price of $2.12, these estimates translate to massive dividend yields of 10.6% and 11.5%, respectively.
Goldman Sachs has a buy rating and $3.00 price target on GQG Partners shares.
Finally, Morgans has named Super Retail as an ASX dividend share to buy. This retail powerhouse owns popular brands including Supercheap Auto, Rebel, BCF, and Macpac.
Morgans believes that Super Retail's diversified portfolio gives it a competitive edge and greater resilience to economic fluctuations. The broker also expects the company to continue paying special dividends in the near term.
Morgans is forecasting fully franked dividends (inclusive of special dividends) of 97 cents per share in FY 2025 and 103 cents per share in FY 2026. At the current share price of $15.33, this equates to dividend yields of 6.3% and 6.7%, respectively.
Morgans has an add rating and $19.79 price target on Super Retail shares.
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