Buy Coles and these ASX 200 dividend shares now

Pleasingly for income investors, there are a large number of ASX 200 dividend shares to choose from on the Australian share market.

But which ones could be buys in April?

Listed below there are three that analysts have rated as buys. Here’s what sort of dividend yields could be on offer with these shares:

Coles Group Ltd (ASX: COL)

The first ASX 200 dividend share for income investors to consider buying this month is Coles.

It is of course one of the big two supermarket operators with over 800 stores across the country. In addition, it has a sprawling liquor network comprising almost 1,000 stores across several brands such as Liquorland and Vintage Cellars.

The team at Morgans is feeling very positive about the company. Particularly after its first-half results surprised to the upside. Not only did its first-half sales outperform expectations, but its trading update revealed that Coles is outperforming its bitter rival early in the second half.

In light of this, the broker is now forecasting fully franked dividends of 66 cents per share in FY 2024 and 69 cents per share in FY 2025. Based on the current Coles share price of $16.94, this will mean yields of 3.9% and 4.1%, respectively.

Morgans currently has an add rating and $18.70 price target on its shares.

Rio Tinto Ltd (ASX: RIO)

Another ASX 200 dividend share that could be a top option for income investors this month is Rio Tinto.

It is one of the largest miners in the world and the owner of a high-quality portfolio of operations across multiple commodities. This includes the Gudai-Darri iron ore mine, which is its newest and most technologically advanced mine, and the ISAL aluminium smelter in Iceland, which produces the lowest carbon footprint aluminium in the world.

The team at Goldman Sachs is feeling very positive on the miner’s production outlook. It expects this to support the payment of fully franked dividends per share of US$4.39 (A$6.77) in FY 2024 and then US$4.61 (A$7.11) in FY 2025. Based on the latest Rio Tinto share price of $121.76, this will mean yields of approximately 5.5% and 5.8%, respectively.

Goldman has a buy rating and $138.30 price target on its shares.

Stockland Corporation Ltd (ASX: SGP)

A final ASX 200 dividend share that could be a buy is Stockland. It is known as Australia’s largest community creator, delivering a range of masterplanned communities and medium density housing in growth areas across the country.

The team at Citi is positive on the company and believes it is positioned to pay some very generous dividends in the near term.

It is expecting dividends per share of 26.2 cents in FY 2024 and 26.6 cents in FY 2025. Based on the current Stockland share price of $4.85, this will mean yields of 5.4% and 5.5% yields, respectively.

Citi has a buy rating and $5.00 price target on its shares.

The post Buy Coles and these ASX 200 dividend shares now appeared first on The Motley Fool Australia.

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More reading

• 5 things to watch on the ASX 200 on Tuesday
• Here’s how the ASX 200 market sectors stacked up last week
• 2 ASX blue-chip shares I’d buy with $3,000 right now
• $19 billion in ASX dividends is being paid out this week. Are you getting your share?
• Brokers say these ASX 200 dividend stocks are buys

Citigroup is an advertising partner of The Ascent, a Motley Fool company. 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 Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Coles 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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