There are plenty of ASX 200 dividend shares to choose from on the Australian share market.

To narrow things down, I have picked out two that have been named as buys by brokers recently. Here’s what they are saying about them:

Harvey Norman Holdings Limited (ASX: HVN)

The first ASX 200 dividend share that could be a buy for income investors is retail giant Harvey Norman.

Although there are concerns that the cost of living crisis and housing market weakness could impact its sales, Goldman Sachs believes the company will be well-placed to continue paying very attractive dividends.

In addition, the broker believes its shares offer meaningful upside from current levels. Especially given how they look dirt cheap in comparison to rival JB Hi-Fi Limited (ASX: JBH) when you adjust for its property portfolio.

Goldman currently has a buy rating and $4.70 price target on the retailer’s shares.

As for dividends, it is expecting fully franked dividends per share of 36 cents in FY 2023 and then 30 cents in FY 2024. Based on the current Harvey Norman share price of $3.64, this will mean yields of 9.9% and 8.25%, respectively.

Telstra Group Ltd (ASX: TLS)

Another ASX 200 dividend share that has been named as a buy is telco giant Telstra.

Morgans is feeling very bullish on the company. So much so, it has Telstra on its best ideas list.

This is due partly to its attractive valuation and the potential for value to be unlocked from asset divestments. The broker notes that Telstra’s “high quality long life assets like InfraCo are worth substantially more” than the market is valuing them.

Its analysts currently have an add rating and $4.70 price target on its shares.

As for dividends, the broker is forecasting fully franked dividends per share of 17 cents in both FY 2023 and FY 2024. Based on the current Telstra share price of $4.33, this will mean yields of 3.9%.

The post Buy Telstra and this ASX 200 dividend share for passive income: brokers appeared first on The Motley Fool Australia.

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More reading

• ‘Well placed for strong growth’: 3 ASX 200 shares that hit the spot right now
• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• 5 dividend shares I think are among the safest on the ASX
• Top brokers name 3 ASX shares to buy today
• Here’s why Goldman Sachs just became even more bullish on Telstra shares

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 positions in and has recommended Harvey Norman. The Motley Fool Australia has positions in and has recommended Harvey Norman and Telstra Group. 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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