It looks like a great time to buy ASX dividend shares because of how many have been sold off. Yields are much higher, so here are two I’d buy.
Wesfarmers Ltd (ASX: WES)
There are some great businesses within this company like Bunnings, Kmart and Wesfarmers chemicals, energy and fertiliser (WesCEF) which generate good returns on capital and equity. These businesses are steadily re-investing for more growth, which is helping the Wesfarmers net profit.
Wesfarmers share price
With expansion into areas like healthcare and lithium, I’m very positive that the ASX dividend share can grow its payout over the long-term, even if there’s some uncertainty during a shorter-term period of time.
WCM Global Growth Ltd (ASX: WQG)
It tries to find businesses with strong competitive advantages which are increasing in strength. The investment team also try to find corporate cultures that enable the strengthening of those competitive advantages, or the economic moat.
WCM Global Growth share price
At the end of September it was invested in businesses like Novo Nordisk, United Health Group, Microsoft, Arthur J Gallagher, Canadian Pacific Kansas City, Amazon and Visa.
The ASX dividend share aims to pay a quarterly, growing dividend for shareholders. The FY24 dividend yield is guided to be 6.2%, or 8.9% including the franking credits.
As a bonus, it’s doing a share buyback and the WCM Global Growth share price is valued at a 20% discount to the underlying pre-tax net asset value (NTA) at 27 October 2023.