If you're searching for dividend shares to buy, then the two listed below could be worth looking at.
Both have been named as buys by analysts recently and tipped to provide good yields. Here's what you need to know:
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Accent Group Ltd (ASX: AX1)
The first ASX dividend share that has been tipped as a buy is footwear focused retailer Accent.
While FY 2022 was a year that the company and shareholders will want to forget about quickly, the company's medium to long term outlook remains as bright as ever. This is thanks to its strong brand portfolio and expansion strategy.
Analysts at Morgans are positive on the company. In response to its full year results, the broker upgraded its shares to an add rating with a $2.00 price target. It commented:
AX1's renewed focus on selling at full price will, in our view, support a recovery in the gross profit margin in FY23 back towards historical averages. We welcome AX1's moderation of the pace of its store rollout in favour of a more selective expansion strategy focused on return on investment. We see AX1 as undervalued at the current share price.
As for dividends, the broker is forecasting fully franked dividends of 9 cents per share in FY 2023 and 11 cents per share in FY 2024. Based on the current Accent share price of $1.53, this will mean yields of 5.9% and 7.2%, respectively.
Charter Hall Social Infrastructure REIT (ASX: CQE)
Another ASX dividend share for that has been tipped as a buy is Charter Hall Social Infrastructure REIT. It is a real estate investment trust that invests in social infrastructure properties.
It had another solid year in FY 2022, reporting an 8% increase in earnings per share earlier this month. And while this was a touch short of Goldman Sachs' expectations, it hasn't altered the broker's bullish view on the company's outlook.
As a result, Goldman has retained its buy rating with a $4.35 price target on its shares. The broker commented:
Although CQE's result came in slightly below our expectations, we continue to believe the REIT is relatively well positioned given the sector's positive fundamentals and CQE's strong balance sheet, with headroom and liquidity to pursue investment opportunities
In addition, the broker is forecasting dividends per share of 17.3 cents in FY 2023 and 18 cents in FY 2024. Based on its current share price of $3.61, this will mean yields of 4.8% and 5%, respectively.
