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If you’re wanting to strengthen your income portfolio in July with some new additions, then it could be worth looking at the ASX 200 dividend giants listed below that brokers rate as buys.
Here’s what you need to know about them:
If you are not opposed to investing in the mining sector, then BHP could be worth considering.
That’s the view of analysts at Goldman Sachs, which think the Big Australian’s shares are in the buy zone right now.
They are forecasting fully franked dividends of approximately ~$2.14 per share in FY 2024 and then ~$1.90 per share in FY 2025. Based on the current BHP share price of $43.15, this equates to dividend yields of 5% and 4.4%, respectively.
Goldman has a buy rating and $49.00 price target on them.
Suncorp Group Ltd (ASX: SUN)
Goldman Sachs also thinks that insurance giant Suncorp could be a top option for income investors. It has a buy rating and $17.54 price target on the insurance giant’s shares.
The broker highlights that it is “favourably disposed to Suncorp, noting in large part the tailwinds that exist in the general insurance market.”
Goldman expects this to underpin fully franked dividends per share of 78 cents in FY 2024 and then 83 cents in FY 2025. Based on the Suncorp share price of $16.80, this will mean yields of 4.6% and 4.95%, respectively.
Telstra Group Ltd (ASX: TLS)
A third ASX 200 dividend giant that Goldman Sachs is positive on is telco giant Telstra. The broker currently has a buy and $4.25 price target on its shares.
Its analysts like the company’s low risk earnings and dividend growth over the coming years.
They are forecasting fully franked dividends of 18 cents per share in FY 2024 and then 18.5 cents per share in FY 2025. Based on the current Telstra share price of $3.61, this equates to fully franked yields of 5% and 5.1%, respectively.
Woodside Energy Group Ltd (ASX: WDS)
Finally, over at Morgans, its analysts are tipping energy giant Woodside as an ASX 200 dividend giant to buy. The broker has an add rating and $36.00 price target on its shares.
As for dividends, Morgans is forecasting fully franked dividends of $1.25 per share in FY 2024 and $1.57 per share in FY 2025. Based on the current Woodside share price of $28.25, this equates to 4.4% and 5.5% dividend yields, respectively.