Retail and health: Analysts say these ASX 300 dividend shares are buys

Analysts have tipped these shares from different sides of the market as buys.

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Income investors are a lucky bunch! That’s because there are a great number of ASX 300 dividend shares to choose from.

But which could be buys? Two that brokers say could be dividend shares to buy are listed below:

Accent Group Ltd (ASX: AX1)

The first ASX 300 dividend share that could be a buy is Accent. Bell Potter believes the footwear-focused retailer is a buy with a $2.50 price target.

Importantly, for income investors, as well as material upside, the broker is expecting some big dividend yields in the near term.

Its analysts are forecasting fully franked dividends per share of 16.1 cents in FY 2023 and then 11.9 cents in FY 2024. Based on the latest Accent share price of $1.84, this represents dividend yields of 8.75% and 6.5%, respectively.

Sonic Healthcare Limited (ASX: SHL)

Another ASX 300 dividend share that could be a buy is Sonic Healthcare. Citi is positive on the medical diagnostics company and has a buy rating and $40.50 price target on its shares.

Its analysts believe that Sonic is well-positioned for long-term growth. Particularly given its strong balance sheet, acquisition opportunities, and organic growth.

In respect to acquisitions, the broker highlights Sonic’s opportunity in Germany. It notes that “SHL estimates that the top-5 players in Germany only have a 40-50% market share (SHL being #1), leaving room for further consolidation.”

Another positive is that the broker is forecasting a growing stream of dividends in the coming years. It expects fully franked dividends per share of 104 cents in FY 2023, 112 cents in FY 2024, and then 120 cents in FY 2025. Based on the current Sonic share price of $34.27, this will mean yields of 3% and 3.2%, and 3.4%, respectively.

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 Sonic Healthcare. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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