If you’re looking for ASX 200 dividend shares to power up your passive income, then you may want to look at the two listed below.

Here’s why analysts at Morgans rate these high yield ASX 200 dividend shares highly:

Santos Ltd (ASX: STO)

The first ASX 200 dividend share that could be a buy is Santos.

It is one of the region’s largest energy producers and the owner of a collection of high quality operations that delivered production of 103 million barrels of oil equivalent (mmboe) in 2022.

The team at Morgans is positive on the company due to its growth prospects and diversified earnings base. It believes this leaves Santos “positioned to flex its cash dividends and buybacks.”

The broker currently has an add rating and $8.75 price target on them.

In respect to dividends, Morgans is expecting fully franked dividends per share of 28 US cents (40.6 Australian cents) in FY 2023 and 30 US cents (43.5 Australian cents) in FY 2024. Based on the current Santos share price of $7.06, this will mean yields of 5.75% and 6.2%, respectively.

QBE Insurance Group Ltd (ASX: QBE)

Another ASX 200 dividend share that Morgans is tipping as a buy is insurance giant QBE.

The broker is feeling positive about the company’s outlook thanks to “strong rate increases still flowing through QBE’s insurance book, and further cost-out benefits to come.” Overall, its analysts expect the company’s “earnings profile to improve strongly over the next few years.”

Morgans also believes its shares are “relatively inexpensive” and has an add rating and $15.05 price target on them.

As for dividends, Morgans is forecasting a 76 cents per share dividend in FY 2023 and then an 85 cents per share dividend in FY 2024. Based on the latest QBE share price of $13.27, this equates to yields of 5.7% and 6.4%, respectively.

The post Power up your passive income with these high yield ASX dividend shares: expert appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Thursday
• 5 things to watch on the ASX 200 on Wednesday
• Why is the Santos share price lifting on Tuesday?
• 5 things to watch on the ASX 200 on Tuesday
• Even Joe Biden sees a lengthy future for ASX 200 oil stocks

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.

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