9% and 12% dividend yields! Should I buy these ASX 200 income shares?

One thing the Australian share market is not short of is dividend shares.

And while the average yield of approximately 4% is very attractive, some shares could offer even greater yields in 2023.

Two high-yield ASX 200 income shares are listed below. Should you buy them for an income boost?

Harvey Norman Holdings Limited (ASX: HVN)

The first ASX 200 income share to look at is retail giant Harvey Norman.

With its shares down 18% this year, Goldman Sachs believes they are trading at an attractive level.

This is due to the broker’s belief that Harvey Norman is well-placed to defend its strong market position from online disruption thanks to its favourable customer demographics. Goldman expects this to lead to above consensus earnings and big dividends in the near future.

As a result, the broker has a buy rating and $4.80 price target on its shares.

In addition, Goldman is expecting fully franked dividends of 38 cents per share in FY 2023 and 32 cents per share in FY 2024. Based on the current Harvey Norman share price of $4.12, this will mean yields of 9.2% and 7.8%, respectively.

Whitehaven Coal Ltd (ASX: WHC)

Another ASX income share that has been tipped as a buy is Whitehaven Coal.

It is a coal miner that is printing money at the moment thanks to sky high coal prices.

And with coal prices expected to remain strong in the near term, Whitehaven Coal appears well-placed to reward its shareholders with big dividends in 2023 and 2024.

In fact, the team at Morgans is forecasting fully franked dividends per share of 115 cents in FY 2023 and 95 cents in FY 2024. Based on the latest Whitehaven Coal share price of $9.31, this will mean yields of 12.3% and 10.2%, respectively.

Morgans also sees plenty of value on offer with its shares. It has an add rating and $11.20 price target on them.

The post 9% and 12% dividend yields! Should I buy these ASX 200 income shares? appeared first on The Motley Fool Australia.

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More reading

• Why Invictus Energy, Star, Whitehaven Coal, and Woodside shares are dropping
• This Whitehaven Coal director just sold 25% of their company shares. What’s going on?
• Guess which ASX 200 share turned a $10,000 investment into $40,000 in 2022
• Little downside protection for popular ASX 200 shares as 2023 looms a much tougher year for blue chip stocks
• Here are the top 10 ASX 200 shares today

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. 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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