Snapshot of ASX Dividend Stocks with Growth Trajectory
Investors scouring the ASX for dividend stocks with growth potential may find interest in three particular shares poised for significant price increases according to recent analyst insights. These selections revolve around a real estate investment trust, a mining giant, and a retail group — all with strong dividend yields and price targets promising appreciable gains.
Dexus Convenience Retail REIT
A property company specializing in convenience retail and service stations, Dexus Convenience Retail REIT is favored by analysts for its value, with an expected upside of 20%. With a forecast of 21 cents in dividends per share for both FY 2024 and FY 2025, investors could see yields nearing 7.8%.
Rio Tinto Ltd
Rio Tinto, a leading global mining company with a diverse asset portfolio, boasts a strong buy rating and a 16% upside potential. Analysts predict fully franked dividends per share of US$4.38 (A$6.66) for FY 2024 and US$4.63 (A$7.04) for FY 2025, translating into yields of approximately 5.5% to 5.8%.
Super Retail Group Ltd
Behind well-known retail brands, the Super Retail Group garners a positive outlook with a 16% potential capital appreciation. The company is expected to offer fully franked dividends per share of 67 cents in FY 2024 and 73 cents in FY 2025, leading to yields of 4.4% and 4.8%, respectively.
Investors should note these dividend yielding stocks not only promise potential capital growth but also offer attractive rates of returns on dividends, a crucial aspect for income-focused portfolios. Observing their performance in the coming fiscal years will be key to assessing the accuracy of these optimistic projections.
Concluding Insights
As the market dynamically shifts, those with a penchant for dividends coupled with growth prospects may find these ASX stocks compelling. While stocks like Dexus Convenience Retail REIT, Rio Tinto, and Super Retail Group showcase promising fundamentals and analyst backing, investors are encouraged to conduct thorough research and consider the overall balance of their investment strategies when capitalizing on these opportunities.