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:
BHP Group Ltd (ASX: BHP)
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.
The post 4 ASX 200 dividend giants to buy in July appeared first on The Motley Fool Australia.
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More reading
- Here are 3 ASX retirement shares to buy in July
- Coles and these ASX dividend stocks could offer huge returns
- Buy Telstra and these ASX dividend stocks in July
- 5 things to watch on the ASX 200 on Thursday
- What is the outlook for Woodside shares in FY25?
Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. 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 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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