Bell Potter names the best ASX 300 dividend shares to buy

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If you’re looking for income ideas then you may want to listen to what Bell Potter is saying about the ASX 300 dividend shares listed below.

That’s because the broker currently has them on its preferred list and is forecasting attractive dividend yields from their shares. Here’s what the broker is saying about them:

Healthco Healthcare and Wellness REIT (ASX: HCW)

Bell Potter thinks that this health and wellness property company could be an ASX 300 dividend share to buy. Particularly given recent weakness, which means that its shares are trading at a significant discount to its net tangible assets (NTA). It said:

HCW has underperformed the REIT sector last 3 months (-10% vs. +22% XPJ) following bond yield reversion and is attractively priced at 20% discount to NTA (but only REIT to record flat to positive valuation movement at 1H24) with double digit 3 year EPS CAGR given high relative sector debt hedging and ability to grow its $1bn development pipeline via attractive YoC spread to marginal cost of debt. Longer term, HCW has significant scope for growth with an estimated $218 billion addressable market where an ageing and growing population should underpin long-term sector demand.

The broker has a buy rating and $1.70 price target on the company’s shares.

As for dividends, the broker is forecasting dividends per share of 8 cents in FY 2024 and 8.3 cents in FY 2025. This equates to yields of 6.7% and 6.9%, respectively.

GUD Holdings Limited (ASX: GUD)

Another ASX 300 dividend share that could be a buy according to Bell Potter is GUD. It is a diversified products company with a focus on the automotive market through brands including Ryco, Wesfil and Goss.

The broker believes the company is well-positioned in the current environment thanks to the resilience of its automotive business. It said:

We see GUD as well-placed to benefit from the ongoing improvement in OEM supply constraints into FY24. Overall, our Buy rating for GUD is predicated on the relative resilience of the legacy auto business and improving momentum in new car sales, which should be favourable for APG’s earnings.

Bell Potter currently has a buy rating and $12.80 price target on its shares.

In respect to dividends, the broker is forecasting fully franked dividends per share of 38.5 cents in FY 2024 and 40.4 cents in FY 2025. This will mean yields of 3.5% and 3.7%, 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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.