Are you looking for some quality ASX dividend shares to add to your income portfolio?
Then you might want to look at the ones listed below. Here's what you need to know about these dividend shares:
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Accent Group Ltd (ASX: AX1)
The first ASX dividend share to look closely at is Accent Group. It is a retail group with a focus on the leisure footwear market. Accent has been growing at a solid rate over the last few years thanks to the popularity of its store brands, its network expansion, and strong consumer demand.
The latter certainly has been the case in FY 2021, with the redirection in consumer spending underpinning strong demand. This led to Accent reporting a 6.6% increase in first half sales to $541.3 million and a 57.3% increase in net profit after tax to $52.8 million.
Bell Potter is confident its growth will continue and is forecasting dividends of 11.7 cents per share in FY 2021 and then 12.3 cents per share in FY 2022. Based on the current Accent share price of $2.79, this will mean fully franked yields of 4.2% and 4.4%, respectively. Bell Potter has a buy rating and $3.30 price target on the company's shares.
Scentre Group (ASX: SCG)
This shopping centre-focused property company has been tipped as a dividend share to buy. This is because of improving trading conditions (save for the recent lockdowns) and the Australian Westfield owner's positive leverage to inflation.
With Australian inflation expectations currently at their highest level since 2015, Goldman Sachs believes this is a big positive for Scentre. Its analysis indicates that Scentre is far more positively leveraged to inflation than any other Australian real estate investment trusts under its coverage.
In light of this, the broker is very positive on the investment opportunity here and has put a buy rating and $3.60 price target on the company's shares. Goldman is also forecasting a 14 cents per share dividend in FY 2021 and a 17 cents per share dividend in FY 2022. Based on the latest Scentre share price of $2.74, this equates to 5.1% and 6.2% yields.
