Buy these ASX dividend shares for passive income

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Passive income investors that are on the lookout for ASX dividend shares to buy this month could do a lot worse than the three stocks listed below.

Let’s see what analysts are saying about them and what sort of dividend yields they are forecasting from their shares in the near term. They are as follows:

Charter Hall Group (ASX: CHC)

The first ASX dividend share that could be a buy is Charter Hall. It is a property fund manager and developer across the office, retail, industrial and residential sectors.

Citi is positive on the company and expects some attractive yields from its shares in the coming years.

The broker is forecasting dividends per share of 45.1 cents in FY 2024 and 47.8 cents in FY 2025. Based on the current Charter Hall share price of $12.11, this will mean yields of 3.7% and 3.9%, respectively.

Citi has a buy rating and $13.40 price target on its shares.

Sonic Healthcare Limited (ASX: SHL)

Another ASX dividend share that could be a buy is Sonic Healthcare. It is a leading medical diagnostics company with operations across the world.

The team at Morgans is positive on the company. It highlights that “management remains confident in a turnaround, outlining numerous near/medium term drivers supporting underlying profitability and reflected in guidance, which we view as achievable.”

As for income, it expects fully franked dividends per share of 104 cents in FY 2024 and 116 cents in FY 2025. Based on the current Sonic share price of $26.39, this will mean yields of 3.9% and 4.4%, respectively.

Morgans has an add rating and $34.94 price target on its shares.

Universal Store Holdings Ltd (ASX: UNI)

A final ASX dividend share that could be a buy in August is Universal Store. It is the youth fashion retailer behind the Universal Store, Perfect Stranger, Thrills, and Worship brands.

Morgans is also a fan of this youth fashion retailer. It notes that “UNI’s focus on offering high quality, fashionable apparel in a well presented store environment with high levels of service is paying off.”

In respect to dividends, the broker is expecting fully franked dividends per share of 26 cents in FY 2024 and 29 cents in FY 2025. Based on the current Universal Store share price of $5.37, this will mean yields of 4.85% and 5.4%, respectively.

Morgans has an add rating and $6.50 price target on its shares.

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Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor James Mickleboro has positions in Universal Store. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Sonic Healthcare. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.