Buy these ASX dividend stocks that have 7%+ yields

Excited woman holding out $100 notes, symbolising dividends.

The Australian share market traditionally provides investors with an average dividend yield of approximately 4%.

But you don’t have to settle for that. Not when there are analysts out there forecasting 7%+ dividend yields from some ASX dividend stocks, such as the three listed below.

Here is what they are saying about these stocks and what sort of yields could be on offer from them in the near term:

Accent Group Ltd (ASX: AX1)

The team at Bell Potter thinks that this footwear focused retailer could be an ASX dividend stock to buy when the market reopens. The broker currently has a buy rating and $2.50 price target on its shares.

It likes the HypeDC and Platypus owner due to its strong market position and its “growth adjacencies via exclusive partnerships with globally winning brands such as Hoka and growing vertical brand strategy.”

Bell Potter expects this to underpin fully franked dividends per share of 13 cents in FY 2024 and then 14.6 cents in FY 2025. Based on the latest Accent share price of $1.84, this represents dividend yields of 7% and 7.9%, respectively.

Dalrymple Bay Infrastructure Ltd (ASX: DBI)

Another ASX dividend stock for income investors to buy according to analysts is Dalrymple Bay Infrastructure. It is the long-term operator of the Dalrymple Bay Coal Terminal.

The team at Morgans currently has an add rating and $3.03 price target on its shares.

As for income, the broker is forecasting dividends per share of 21.9 cents in FY 2024 and then 22.6 cents in FY 2025. Based on the latest Dalrymple Bay Infrastructure share price of $2.79, this will mean very large yields of 7.8% and 8.1%, respectively.

HomeCo Daily Needs REIT (ASX: HDN)

Another ASX dividend stock that analysts at Morgans are positive on right now is HomeCo Daily Needs. The broker currently has an add rating and $1.37 price target on the neighbourhood retail and large format retail focused property company’s shares.

Morgans likes the property company due to its resilient cashflows and sees it as a beneficiary of accelerating click and collect trends. In addition, it highlights its attractive distribution yield and a development pipeline that provides growth opportunities.

Speaking of yields, Morgans expects dividends per share of 8 cents in FY 2024 and then 9 cents in FY 2025. Based on the current HomeCo Daily Needs share price of $1.22, this will mean yields of 6.5% and 7.4%, respectively.

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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 no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group and HomeCo Daily Needs REIT. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.