5 excellent ASX dividend shares to buy in May

A new month is on the horizon, so what better time to look at making some new additions to your income portfolio.

Five ASX dividend shares that analysts think could be worth your attention next month are listed below. Here's what they are forecasting from them:

APA Group (ASX: APA)

If infrastructure-backed income is your style, then APA Group should be on your watchlist. The energy infrastructure giant is on track to increase its dividend for 20 years in a row. Macquarie rates it as a buy and expects dividend yields of 6.9% in FY 2025 and 7% in FY 2026.

Nickel Industries Ltd (ASX: NIC)

Looking to capture long-term growth in the electric vehicle supply chain while being paid handsomely to wait? Then Nickel Industries might be worth a look. Bell Potter estimates that it offers a 7.8% dividend yield in FY 2025 and then a 19.5% yield in FY 2026. It has a buy rating on the ASX dividend share and sees major upside over the next 12 months.

Smartgroup Corporation Ltd (ASX: SIQ)

Smartgroup is one of the more reliable ASX dividend shares. It specialises in salary packaging and novated leasing solutions, serving a largely government and not-for-profit customer base. Bell Potter remains bullish and sees its dividend yield hitting 8% in FY 2025 and then 8.5% in FY 2026.

Treasury Wine Estates Ltd (ASX: TWE)

Another ASX dividend share to look at in May is Treasury Wine. It is a wine giant with a focus on premium and luxury brands like Penfolds. With China removing tariffs from Australian wine and premium demand picking up in the US, it could be entering a new growth phase. Goldman Sachs thinks this is the case and has put a buy rating on its shares. In respect to income, it expects partially franked dividend yields of 4.8% in FY 2025 and then 5.6% in FY 2026.

Universal Store Holdings Ltd (ASX: UNI)

Finally, youth-focused fashion retailer Universal Store has become a quiet achiever on the dividend front. The company is executing well on its national store rollout strategy and has delivered a growing stream of dividends since its IPO. The good news is that Bell Potter expects this trend to continue. As a result, it has put a buy rating on its shares and is forecasting fully franked dividend yields of 4.5% in FY 2025 and then 4.8% in FY 2026.

The post 5 excellent ASX dividend shares to buy in May appeared first on The Motley Fool Australia.

Motley Fool contributor James Mickleboro has positions in Treasury Wine Estates and Universal Store. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group and Macquarie Group. The Motley Fool Australia has positions in and has recommended Apa Group, Macquarie Group, and Smartgroup. The Motley Fool Australia has recommended Treasury Wine Estates. 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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