3 ASX 300 dividend stocks to buy now for income

Brokers think these dividend stocks are buys right now. What sort of yields are they forecasting?

| More on:
Woman calculating dividends on calculator and working on a laptop.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Are you wanting some new additions for your income portfolio?

If you are, then you may want to check out the three ASX 300 dividend stocks listed below that analysts rate highly.

Here's what these analysts are recommending and what sort of income could be on offer with their shares right now:

Dexus Industria REIT (ASX: DXI)

The first ASX 300 dividend stock that could be a buy this month is Dexus Industria.

It is a real estate investment trust which primarily invests in high-quality industrial warehouses. Management believes its portfolio is well-positioned to provide sustainable income and capital growth prospects for shareholders over the long term.

Morgans seems to agree and is forecasting some big dividend yields in the near term.

The broker is forecasting dividends per share of 16.4 cents in FY 2024 and 16.6 cents in FY 2025. Based on the current Dexus Industria share price of $2.87, this will mean dividend yields of 5.7% and 5.8%, respectively.

Morgans currently has an add rating and a $3.18 price target on its shares.

Lottery Corporation Ltd (ASX: TLC)

Another ASX 300 dividend stock that is rated highly is Lottery Corporation. It is the lottery company behind OZ Lotto, Powerball, and Keno.

UBS likes Lottery Corporation and believes its shares are good value at current levels.

In respect to dividends, the broker is forecasting a 17 cents per share dividend in FY 2024 and then a 20 cents per share dividend in FY 2025. Based on the latest Lottery Corporation share price of $4.96, this will mean fully franked dividend yields of 3.4% and 4%, respectively, over the next two years.

UBS has a buy rating and a $5.75 price target on the company's shares.

NIB Holdings Limited (ASX: NHF)

Over at Goldman Sachs, analysts believe that this private health insurer could be an ASX 300 dividend stock to buy.

The broker likes NIB for a number of reasons. This includes its defensive qualities and favourable claims environment. It highlights that the company "offers defensive exposure to the private health insurance sector which is experiencing favourable operating trends."

As for income, Goldman is forecasting fully franked dividends per share of 31 cents in FY 2024 and 30 cents in FY 2025. Based on the current NIB share price of $7.61, this would mean 4.1% and 3.9% dividend yields, respectively.

Goldman currently has a buy rating and $8.10 price target on NIB's shares.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Lottery. The Motley Fool Australia has positions in and has recommended NIB Holdings. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

Hand with Australian dollar notes handing the money to another hand symbolising ex-dividend date.
Bank Shares

Here's the ANZ dividend forecast through to 2026

The banking giant will be paying its latest dividend soon. But what will come next?

Read more »

a man looks down at his phone with a look of happy surprise on his face as though he is thrilled with good news.
Dividend Investing

Buy Telstra and these ASX dividend stocks for income

Analysts think income investors should be buying these income stocks.

Read more »

Australian notes and coins symbolising dividends.
Financial Shares

Why is the Macquarie share price getting hammered on Monday?

Investors shouldn't be worried about today's big share price drop...

Read more »

Woman relaxing on her phone on her couch, symbolising passive income.
Dividend Investing

How to choose ASX shares for passive income

These three factors help me pick stocks for dividends.

Read more »

Man holding out Australian dollar notes, symbolising dividends.
Dividend Investing

Buy these ASX stocks for 4% and 8% dividend yields

Analysts have good things to say about these buy-rated income stocks.

Read more »

Smiling woman with her head and arm on a desk holding $100 notes out, symbolising dividends.
Dividend Investing

These ASX dividend shares offer 6%+ yields

Analysts think these buy-rated shares could offer big yields.

Read more »

ATM with Australian hundred dollar notes hanging out.
Dividend Investing

Here's the CBA dividend forecast through to 2026

How big will the banking giant's dividend be in the coming years?

Read more »

Man holding Australian dollar notes, symbolising dividends.
Opinions

An ASX dividend giant I'd buy over NAB shares for 2024

I think this ASX dividend gem is well-placed to boost its income payouts in 2024 and beyond.

Read more »