Buy Rio Tinto and these ASX 200 dividend stocks for a passive income boost

Passive income investors have a lot of options on the Australian share market.

So much so, it can be hard to decide which ASX 200 dividend stocks to buy.

But never fear, listed below are four options that are rated highly by brokers. They are as follows:

APA Group (ASX: APA)

Analysts at Macquarie think that APA could be an ASX 200 dividend stock to buy. It is an energy infrastructure company that owns, manages, and operates a diverse portfolio of gas, electricity, solar and wind assets.

As for dividends, the broker is forecasting dividends per share of 56 cents in FY 2024 and 57.5 cents in FY 2025. Based on the current APA Group share price of $8.69, this equates to 6.4% and 6.6% dividend yields, respectively.

Macquarie has an outperform rating and $9.40 price target on the company’s shares.

Coles Group Ltd (ASX: COL)

The team at Morgans think that this supermarket giant would be a great option for passive income investors.

It is expecting Coles to pay 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 $16.33, this implies yields of approximately 4% and 4.2%, respectively.

The broker currently has an add rating and $18.95 price target on its shares.

Rio Tinto Ltd (ASX: RIO)

Goldman Sachs’ analysts think that mining giant Rio Tinto could be a top ASX 200 dividend stock to buy right now.

Particularly given its generous dividend yield. The broker is forecasting fully franked dividends per share of US$4.29 (A$6.52) in FY 2024 and then US$4.55 (A$6.91) in FY 2025. Based on the latest Rio Tinto share price of $130.51, this will mean yields of approximately 5% and 5.3%, respectively.

The broker has a buy rating and $138.90 price target on the miner’s shares.

Transurban Group (ASX: TCL)

Transurban could be another ASX 200 dividend stock to buy according to analysts at Citi. It is a toll road giant with a growing number of important roads across both Australia and North America.

Citi’s analysts are expecting some good yields from its shares in the coming years. The broker is forecasting dividends per share of 63.6 cents in FY 2024 and 65.1 cents in FY 2025. Based on the current Transurban share price of $12.90, this will mean yields of 4.9% and 5%, respectively.

Citi has a buy rating and $15.50 price target on its shares.

The post Buy Rio Tinto and these ASX 200 dividend stocks for a passive income boost appeared first on The Motley Fool Australia.

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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, Macquarie Group, and Transurban Group. The Motley Fool Australia has positions in and has recommended Apa Group, Coles Group, and Macquarie Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.