Looking to enhance your income portfolio with some notable dividend stocks? Here are a few ASX 300 shares that analysts are optimistic about for their strong dividend yields:
Dexus Convenience Retail REIT (ASX: DXC)
Dexus Convenience Retail REIT focuses on owning and managing a diverse portfolio of service station and convenience retail assets located across Australia. The company’s properties are primarily concentrated along the eastern seaboard, providing a robust foundation for its operations. Analysts have a positive outlook on the company’s future performance, suggesting that it has considerable potential for growth.
For those interested in dividend income, Dexus Convenience Retail REIT presents an attractive opportunity. The forecast for dividends per share is 20.7 cents for the fiscal year 2024 (FY 2024) and 21.7 cents for FY 2025. Given the current share price of $2.79, these forecasts translate into impressive dividend yields of 7.4% for FY 2024 and 7.8% for FY 2025. This indicates a strong potential return on investment through dividends. Additionally, the target share price for Dexus Convenience Retail REIT is set at $3.00, reflecting a positive outlook on its stock value.
Orora Ltd (ASX: ORA)
Orora Ltd operates in the packaging sector and is known for its defensive characteristics, which make it an appealing choice for investors seeking stability. Despite the market's current valuation, Orora Ltd’s shares are considered to be undervalued, offering a favorable investment opportunity.
The company’s dividend projections are noteworthy. Analysts anticipate dividends per share of 9 cents in FY 2024 and 8 cents in FY 2025. With the current share price standing at $1.90, these projections result in dividend yields of 4.7% for FY 2024 and 4.2% for FY 2025. This yield range suggests that Orora Ltd could provide a steady income stream for investors. The target share price for Orora Ltd is estimated to be $2.70, indicating potential upside for the stock.
Woodside Energy Group Ltd (ASX: WDS)
Woodside Energy Group Ltd, a leading entity in the energy sector, has been highlighted for its strong financial performance and recent share price developments. The company’s high-quality earnings and current share price adjustments have led to positive expectations regarding its future performance.
Dividend yields from Woodside Energy Group are particularly compelling. The forecast includes fully franked dividends of $1.28 per share for FY 2024 and $1.54 per share for FY 2025. Based on the current share price of $25.49, these dividends result in yields of 5% for FY 2024 and 6% for FY 2025. Such yields are indicative of a robust dividend return for investors. Furthermore, the target share price for Woodside Energy Group is projected at $35.00, suggesting a significant growth potential for its stock.
For those considering options to boost their income portfolio, these ASX 300 shares offer promising potential with their attractive dividend yields and positive forecasts.