Watch out! BHP Group Ltd (ASX: BHP) is paying out the ASX’s biggest dividend today, spending a mammoth $12.5 billion in cash.

This means that BHP has taken the mantle of paying out the biggest amount in ASX corporate history.

With the ASX closed due to the National Day of Mourning for the Queen of England, BHP shares closed at $37.96 yesterday.

For context, the S&P/ASX 200 Index (ASX: XJO) also finished lower on Wednesday, down 1.56%.

BHP pays out history-making dividend

BHP reported record numbers across key metrics in its full-year results for the 2022 financial year.

In summary, underlying EBITDA from continuing operations jumped 16% to a record US$40,634 million driven by BHP’s coal operations.

Subsequently, this flowed through to a stronger free cash flow of US$29,285 million, up 13%.

Underlying attributable profit grew by 26% to US$21,319 million.

This led the board to declare a fully franked dividend of US$1.75 per share to be paid on 22 September (today). This is around A$2.55 per share based on the payment currency equivalent.

For those who elected in the dividend reinvestment plan (DRP), there was no discount rate offered by the company. 

This brings the total FY22 dividend to US$3.25 per share, an increase of 8% compared to FY21’s full-year dividend.

The company has a 50% minimum payout policy. The cash dividend announced today is equivalent to a 77% payout ratio.

BHP share price summary

Despite tumbling 9% in the past month, the BHP share price has lifted 3% in 2022.

When looking at the last 12 months, its shares have posted a gain of 13%.

BHP has a price-to-earnings (P/E) ratio of 6.35 and commands a market capitalisation of roughly $192.1 billion.

The post The history-making BHP dividend is being paid out today. Here’s the lowdown appeared first on The Motley Fool Australia.

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More reading

• Why is the BHP share price lagging the ASX 200 today?
• This is how I found a 15-bagger ASX share: fund manager
• $18 billion of ASX dividends are being paid out this week. Here’s the lowdown
• Here’s what this top broker is saying about the BHP share price
• Why China’s slowdown isn’t as bad as it looks for ASX 200 mining shares

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The ASX is closed today but that shouldn’t stop Santos Ltd (ASX: STO) shareholders from receiving a payday.

It’s raining dividends for Santos shareholders today

Last month, Santos handed in its first-half 2022 results. In doing so, the ASX 200 oil and gas business declared an unfranked interim dividend of 7.6 US cents. This is equivalent to ~10.93 cents in Aussie dollars.

Santos shares went ex-dividend for this payment back on 22 August. So, any Santos shares bought on or after this date won’t be eligible for today’s payout.

Due to the absence of a dividend reinvestment plan (DRP), every investor will be receiving this dividend in cash.

Today’s 7.6 US cents per share payment represents a pleasing 38% increase from the 5.5 US cent interim dividend Santos declared in 2021.

This dividend hike was supported by record first-half free cash flow and underlying earnings.

In 1H22, Santos’ free cash flow rocketed by 199% to US$1.7 billion while underlying profit catapulted 300% to US$1.3 billion. 

These results were underpinned by significantly higher oil and LNG prices due to strong global energy demand. Not to mention the contribution from the recent Oil Search merger.

Adding in the unfranked final dividend Santos declared back in February of 8.5 US cents, Santos shares are trading on a trailing dividend yield of 2.9%.

Looking ahead, broker Macquarie is forecasting Santos to declare a bumper final dividend of 18 US cents. This would take total FY22 dividends to 25.6 US cents, representing a dividend yield of around 4.9%.

Santos share price snapshot

On the back of strong commodity prices, Santos shares have bucked the broader market weakness to push higher this year. 

The Santos share price has jumped 22% in the year to date. It’s well and truly outperformed the S&P/ASX 200 Index (ASX: XJO), which has backpedalled 10%.

Through its merger with formerly ASX-listed Oil Search at the end of last year, Santos is comfortably the ASX’s second-largest energy business.

It currently commands a market capitalisation of $26 billion.

Despite Santos’ formidable size, it’s dwarfed by Woodside Energy Group Ltd (ASX: WDS) which has a market cap of around $62 billion.

Woodside’s market cap has been boosted by M&A activity of its own, acquiring the oil and gas portfolio from BHP Group Ltd (ASX: BHP) earlier this year.

The post Own Santos shares? Get ready to receive your dividends appeared first on The Motley Fool Australia.

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More reading

• Is the Santos share price ‘starting to resume its uptrend’?
• $18 billion of ASX dividends are being paid out this week. Here’s the lowdown
• ‘Bullish sign’: Expert names 2 rising ASX shares to buy right now
• 5 things to watch on the ASX 200 on Tuesday
• Broker names 2 of the best ASX shares to buy now

Motley Fool contributor Cathryn Goh has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Macquarie Group Limited. 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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Income investors that are looking for dividend options this week might want to check out the two ASX shares listed below.

Both of these ASX dividend shares have recently been tipped as buys by brokers. Here’s why they are bullish:

New Hope Corporation Limited (ASX: NHC)

According to a note out of Credit Suisse, its analysts have retained their outperform rating with a slightly trimmed price target of $7.80 on this coal miner’s shares. This follows the release of a strong full year result for FY 2022, which saw New Hope declaring dividends that were ahead of expectations.

Looking ahead, the broker believes the company is well-placed to pay even bigger dividends in the coming years thanks to sky high coal prices. In light of this, it sees significant value in the New Hope share price at the current level.

Credit Suisse is forecasting a fully franked $1.67 per share dividend in FY 2023 and then a fully franked $1.39 per share dividend in FY 2024. Based on the current New Hope share price of $6.16, this will mean stunning yields of 27.1% and 22.5%, respectively.

Origin Energy Ltd (ASX: ORG)

A note out of Macquarie reveals that its analysts have retained their outperform rating and $7.42 price target on this energy company’s shares. This follows news that the company is selling its Beetaloo Basin interests to Tamboran Resources for $60 million plus royalties.

The broker is pleased with the decision and expects it to boost Origin’s ESG credentials. In addition, it believes the cost savings could support higher dividends. Outside this, Macquarie highlights that higher than expected oil prices are supportive of strong free cash flow generation.

Macquarie is expecting this to lead to dividends per share of 35 cents per share in FY 2023 and 30 cents per share in FY 2024. Based on the current Origin share price of $5.74, this will mean yields of 6.1% and 5.2%, respectively, for investors.

The post Brokers name 2 ASX dividend shares to buy appeared first on The Motley Fool Australia.

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More reading

• Here are the top 10 ASX 200 shares today
• 3 ASX 200 shares paying out ‘special’ dividends in 2022
• Dividend beasts: 5 ASX shares with monster yields and no debt
• Macquarie tips even more upside for New Hope share price
• 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 no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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It has been a tough week so far for the Fortescue Metals Group Limited (ASX: FMG) share price.

Since announcing its decarbonisation strategy on Tuesday, the mining giant’s shares have tumbled over 5% to $16.54.

Why is the Fortescue share price falling?

Investors appear to have been selling down the Fortescue share price amid concerns that the company’s dividends could be under threat.

While this may not be news to many readers, as I have previously warned about the impact the company’s decarbonisation plans could have on its dividends, the market finally seems to be waking up to this threat now.

This is because Fortescue has announced that it intends to spend US$6.2 billion or A$9.2 million to decarbonise its Pilbara operations.

While the company has not advised whether it will use its free cash flow or take on debt to fund these plans, the general consensus is that it will use the former and cut back its dividend payments.

This means the generous dividend yields that Fortescue’s shares have been offering in recent years could be coming to an end.

What are analysts saying?

According to a note out of Goldman Sachs, its analysts continue to believe that Fortescue’s dividend payout ratio will be impacted by this strategy. It commented:

Today’s announcement and commitment underpins our view that FMG is at an inflection point on capital allocation, and to fund the ambitious decarb strategy, we assume the dividend payout ratio falls from the current 75% to 50% from FY24 onwards.

Goldman added:

The capital estimate of US$6.2bn represents the incremental spend over and above existing planned sustaining and mining fleet replacement capex and excludes Iron Bridge mining fleet replacement, implying the overall decarbonisation spend is above our previous US$7-8bn estimate (not in our numbers) which included the Pilbara Energy Connect (PEC) project. While FMG expect the investment to generate a positive NPV largely on the displacement of diesel costs, the target opex saving of ~US$0.8bn pa was below our prior estimate of ~US$1bn, but this will depend on oil and WA domestic gas price assumptions.

Fortescue dividend forecast

In light of the above, the broker is forecasting fully franked dividends per share of 81 US cents in FY 2023, 37 US cents in FY 2024, and then 31 US cents in FY 2025.

Based on the current Fortescue share price at exchange rates, this will mean yields of 7.3%, 3.3%, and 2.8%, respectively.

Goldman has a sell rating and $12.10 price target on the company’s shares.

The post Is the Fortescue dividend at risk from the miner’s $9b decarbonisation strategy? appeared first on The Motley Fool Australia.

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More reading

• Why has the Fortescue share price been having such a rough trot lately?
• This is how I found a 15-bagger ASX share: fund manager
• Are ASX hydrogen shares worth buying right now?
• Fortescue share price edges higher amid $9b ‘industry-leading decarbonisation strategy’
• Why China’s slowdown isn’t as bad as it looks for ASX 200 mining 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 no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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If you’re wanting to add some ASX 200 shares to your portfolio, then you may want to check out the two listed below.

Here’s why these ASX 200 shares come highly rated:

Goodman Group (ASX: GMG)

The first ASX 200 share to look at is Goodman Group. It is an integrated commercial and industrial property group which has generated consistently strong returns for investors over the last decade.

This has been underpinned by the diversity of Goodman’s portfolio and its exposure to quick growing markets such as ecommerce.

Pleasingly, the ecommerce market has resulted in strong demand from blue chip customers such as Amazon, Showpo, and Walmart. And given how the shift to online shopping is only really getting started, these properties look set to be in strong demand for a long time to come.

One broker that is very positive on Goodman is Goldman Sachs. It has a buy rating and $25.40 price target on its shares.

ResMed Inc. (ASX: RMD)

Another ASX 200 share that has been rated as a buy is ResMed. It is a medical device company aiming to change lives by developing, manufacturing, and distributing innovative medical devices and cloud-based software solutions. These solutions help to better diagnose, treat, and manage sleep-disordered breathing, chronic obstructive pulmonary disease (COPD), and other key chronic diseases.

Demand has been strong for its innovative products in recent years, leading to stellar sales and earnings growth.

The good news is that ResMed appears well-placed to continue this positive form in the future. This is thanks to its world-class products, the massive number of undiagnosed sleep apnoea sufferers globally, and its rapidly growing digital health ecosystem.

Credit Suisse is positive on the company and has an outperform rating and $40.00 price target on its shares.

The post Experts name 2 outstanding ASX 200 shares to buy right now appeared first on The Motley Fool Australia.

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More reading

• Looking to buy ASX shares? Expert reveals ‘one metric to assess the quality of a business’
• I regret not buying 2 ASX shares that became 10-baggers: fundie
• One ‘safe’ and one ‘exciting’ ASX share to own for years like Warren Buffett: fund manager
• 2 blue chip ASX 200 shares to boost your portfolio: experts
• Analysts name 2 excellent blue chip ASX 200 shares to buy now

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 ResMed Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended ResMed Inc. 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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If you’re interested in adding some ASX growth shares to your portfolio, you may want to look at the three listed below.

These growth shares have recently been named as buys by experts. Here’s what they are saying about them:

Aristocrat Leisure Limited (ASX: ALL)

The first ASX growth share that has been tipped as a buy is Aristocrat Leisure. It is one of the world’s leading gaming technology companies and the owner of a portfolio of popular poker machines and digital games. The latter boasts over ~20 million monthly active users and are generating significant recurring revenues. Aristocrat is also looking to expand into the real money gaming market, which could be another significant avenue of growth.

Citi is a fan of the company. It has a buy rating and $40.20 price target on its shares.

Cochlear Limited (ASX: COH)

Another ASX growth share that has been named as a buy is Cochlear. It is one of the world’s leading hearing solutions companies. Thanks to its portfolio of world class products in an industry with high barriers of entry, Cochlear has been growing at a solid rate for well over a decade and looks well-placed to continue this trend in the future. Particularly given how the industry is benefiting from favourable tailwinds such as ageing populations.

Goldman Sachs is bullish on Cochlear. Its analysts currently have a buy rating and $237.00 price target on its shares.

Webjet Limited (ASX: WEB)

A final ASX growth share that has been named as a buy is online travel agent Webjet. After a tough couple of years, Webjet is now back on form thanks to rebounding travel markets. And with its costs reduced materially from pre-pandemic levels, Webjet looks set to be a much more efficient business in the future. This bodes well for its growth in the coming years.

Goldman Sachs is also very positive on Webjet. Its analysts currently have a buy rating and $6.80 price target on its shares.

The post Here are 3 top ASX growth shares that analysts rate as buys appeared first on The Motley Fool Australia.

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More reading

• Why is the Cochlear share price slipping on Wednesday?
• Here are the top 10 ASX 200 shares today
• Why is the Webjet share price heading 5% skywards on Tuesday?
• Here’s how to grab your piece of the latest Cochlear dividend
• Here are 3 ASX 200 shares turning ex-dividend tomorrow

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 Cochlear Ltd. The Motley Fool Australia has recommended Cochlear Ltd. and Webjet Ltd. 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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The S&P/ASX 200 Index (ASX: XJO) waved farewell to eight companies on Monday morning. The benchmark index also welcomed eight others.

The shakeup was part of the S&P Dow Jones Indices quarterly rebalance, which seeks to maintain risks at targeted volatility levels.

The ASX 200 houses the 200 (or so) largest listed companies by market cap. As some of these companies lost a lot of ground over the past three months, they were replaced by other companies.

Below we look at the eight companies that departed the ASX 200 on Monday and how they’ve performed since Friday’s closing bell. For context, the benchmark index is down 0.6% this week.

Leaving the ASX 200 on Monday

The first company to depart the benchmark index is Life360 Inc (ASX: 360), with a market cap of $1.0 billion. Based in the United States, the software development company allows users to keep track of family members via its apps. The Life360 share price is down 1.3% since Friday’s closing bell.

Up next is AVZ Minerals Ltd (ASX: AVZ), which has a market cap of $2.7 billion. The resource explorer is focused on developing the lithium-rich Manono Project, located in the Democratic Republic of the Congo. AVZ shares last traded on 6 May, after which the company asked for a halt in trading. And it now looks like shares won’t be trading again until at least October.

The third company that got kicked out of the ASX 200 on Monday is City Chic Collective Ltd (ASX: CCX), with a market cap of $377 million. The ASX retailer specialises in plus-size women’s apparel, footwear and accessories. City Chic pays a 0.6% trailing dividend yield, fully franked. Shares are down 5.9% this week.

Moving on to the fourth company to exit the benchmark index, we have Clinuvel Pharmaceuticals Ltd (ASX: CUV), with a market cap of $944 million. The biotech share is engaged in developing drugs for the treatment of genetic and vascular disorders. Clinuvel pays a slender 0.2% trailing dividend yield, fully franked. The share price is down 10.5% since Friday’s closing bell.

Also exiting the benchmark index

Fintech company EML Payments Ltd (ASX: EML) also departed the ASX 200 on Monday. EML payments has a market cap of $330 million. Shares are down 6.95% this week.

Next, we have Janus Henderson Group PLC (ASX: JHG), which has a market cap of $5.9 billion. The investment management services company pays a 6.2%, unfranked trailing dividend yield. The Janus Henderson share price has slipped 1.9% this week.

Coming in at number seven is Pointsbet Holdings Ltd (ASX: PBH), with a market cap of $641 million. Pointsbet, as the name implies, is a licensed corporate bookmaker with operations in Australia and the United States. The Pointsbet share price is down 2.8% since Friday’s closing bell.

And the final company to exit the ASX 200 on Monday is Zip Co Ltd (ASX: ZIP). The buy now, pay later (BNPL) stock has been particularly hard hit by rising interest rates this year, leaving it with a current market cap of $535 million. The Zip share price is down 10.9% this week.

The post 8 ASX 200 shares got kicked out of the index on Monday. How are they tracking? appeared first on The Motley Fool Australia.

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More reading

• Why Imugene, Link, Newcrest, and Zip shares are dropping
• Guess how many companies in the ASX 300 actually make no money
• Why Accent, Bigtincan, Clinuvel, and IVE shares are dropping today
• Here are 3 ASX growth shares analysts rate as buys
• Why Lake Resources, Life360, Pilbara Minerals, and PolyNovo shares are storming higher

Motley Fool contributor Bernd Struben 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 Life360, Inc., Pointsbet Holdings Ltd, and ZIPCOLTD FPO. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. 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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The S&P/ASX 200 Index (ASX: XJO) welcomed eight new companies on Monday morning.

The benchmark index also farewelled eight others.

That’s all part of the S&P Dow Jones Indices quarterly rebalance, following on from its September quarterly review, which seeks to maintain risks at targeted volatility levels.

The ASX 200, as you’re likely aware, is home to the 200 (or so) largest listed companies by market cap. As some of these companies lost a lot of ground over the past three months they were replaced, on Monday, by other companies.

Below we look at the eight newest ASX 200 shares and how they’ve done since the closing bell last Friday. For context, the benchmark index is down 0.6% since then.

Joining the ASX 200 on Monday

The first new company to join the ASX 200 on Monday is Capricorn Metals Ltd (ASX: CMM), with a market cap of $1.07 billion. The resource explorer’s main focus is its Karlawinda Gold Project, located in Western Australia. The Capricorn Metals share price is down 1.05% since being added to its new benchmark index.

Next up we have Charter Hall Social Infrastructure REIT (ASX: CQE), with a market cap of $1.3 billion. The real estate investment trust primarily invests in early learning centres. Charter Hall pays a 4.94% trailing dividend yield, unfranked. The REIT’s share price is down 2.6% since Friday’s close.

The third company joining the ASX 200 this week is Johns Lyng Group Ltd (ASX: JLG), which has a market cap of $1.64 billion. Johns Lyng provides integrated building services in Australia. The company pays a 0.9% trailing dividend yield, fully franked. Shares are up 2.97% so far this week.

Moving on to the fourth new entrant, we have Karoon Energy Ltd (ASX: KAR), with a market cap of $1.16 billion. The oil and gas exploration and production company has projects in Australia and Brazil. The Karoon Energy share price has gained 3.48% since Friday’s close.

Also making the move

Also joining the ASX 200 this week is fashion jewellery retailer Lovisa Holdings Ltd (ASX: LOV). Lovisa has been powering higher in 2022 and now commands a market cap of $2.5 billion. Lovisa pays a 3.26% trailing dividend yield, partly franked. Shares are up 1.8% this week.

Next up is Smartgroup Corporation Ltd (ASX: SIQ), with a market cap of $723 million. The ASX tech share provides specialist employee management services like salary packaging and vehicle fleet management. The stock pays a 6.67% trailing dividend yield, fully franked. The Smartgroup share price is down 0.92% this week.

Coming in at number seven is Spark New Zealand Ltd (ASX: SPK), with a hefty market cap of $8.53 billion. The ASX telecom share is a leading provider of fixed line and mobile services in New Zealand. Shares are up 1.79% from where they were at Friday’s closing bell. Spark pays a 5.58% trailing dividend yield, unfranked.

And the final company to join the ASX 200 on Monday is Sayona Mining Ltd (ASX: SYA), which has a market cap of $2.2 billion. The resource company is primarily focused on lithium and graphite, with projects in Australia and Canada. Shares have tumbled 13.8% this week.

The post These 8 companies joined the ASX 200 on Monday. Here’s how they’re performing appeared first on The Motley Fool Australia.

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More reading

• Here are the 3 most heavily traded ASX 200 shares on Wednesday
• What’s the outlook for ASX 200 retail shares as inflation begins to bite?
• Goldman Sachs names 2 ASX dividend shares to buy
• Here are the 3 most heavily traded ASX 200 shares on Monday
• The ‘in’ crowd: How are the ASX 200 newcomers performing today?

Motley Fool contributor Bernd Struben 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 Johns Lyng Group Limited. The Motley Fool Australia has positions in and has recommended SMARTGROUP DEF SET. The Motley Fool Australia has recommended Johns Lyng Group Limited and Lovisa Holdings Ltd. 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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One word effectively sums up global and Australian share markets right now: Volatility. And when you have volatility in play, your chances of share price appreciation are lower.

That’s why we’ve seen a shift in interest away from ASX growth stocks to ASX value stocks in 2022.

Value stocks tend to be larger, established companies that pay great dividends. When the prospects of capital gains are lower, we investors tend to shift focus to generating good dividend income.

One ASX share offering juicy dividends right now is Westpac Banking Corp (ASX: WBC).

Westpac dividend forecasts

Today, the Westpac share price closed down along with the rest of the market.

Westpac finished 0.73% in the red at a share price of $21.73. The S&P/ASX 200 Index (ASX: XJO) finished down 1.56% to 6,700.2 points.

As my fellow Fool James reports, Goldman Sachs has slapped a buy rating on Westpac.

Goldman forecasts fully franked dividends of $1.23 per share in FY22 and $1.37 in FY23. Based on the current Westpac share price, that’s a grossed-up yield of 8.1% and 9%, respectively. That’s juicy.

The broker says Westpac is its preferred exposure amongst Australian and New Zealand financial equities. It likes the bank’s latest quarterly update and says it has “strong leverage to rising rates”.

As my Fool friend Brooke notes, rising rates typically allow banks to reprice their loans. This can bolster their net interest margins and profitability.

Like other ASX 200 banks, Westpac has been trying to cut costs to improve its profitability.

Goldman doesn’t think Westpac will achieve its $8 billion cost target for FY24. However, the analysts still forecast a 7% reduction in underlying expenses.

Morgan Stanley also rates Westpac a buy. It forecasts an FY22 dividend of $1.25 and an FY23 dividend of $1.30.

What about the Westpac share price?

Goldman Sachs has a share price target of $26.55 on Westpac shares. Based on today’s closing price, that’s a potential gain of 22% over the next 12 months.

Goldman Sachs said:

Westpac now offers the most upside of the banks over the next 12 months. Beyond this, we note the stock is trading at a 20% discount to peers, versus the historic average 2% discount.

UBS is neutral on Westpac shares with a $26 price target â€“ representing a potential 20% upside.

Citi has a buy rating and a $30 price target on Westpac shares. That’s a potential 38% upside.

The post Looking for juicy ASX dividends? This expert says Westpac shares are a buy appeared first on The Motley Fool Australia.

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More reading

• Here’s why I decided to buy each of the big 4 ASX 200 bank shares
• Looking to buy CBA shares? Here’s how the bank’s balance sheet stacks up
• Westpac shares: Buy, hold, or fold?
• Brokers say these ASX 200 dividend shares are buys now
• Brokers name 3 ASX shares to buy today

Citigroup is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Bronwyn Allen has positions in Westpac Banking Corporation. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs. The Motley Fool Australia has recommended Westpac Banking Corporation. 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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The S&P/ASX 200 Index (ASX: XJO) tumbled to its lowest point since July today, hitting an intraday low of 6,695 points. As of the market’s close, it was down 1.56% at 6,700.20 points.

Its suffering followed a brutal night on Wall Street that saw the Dow Jones Industrial Average Index (DJX: .DJI) fall 1% and the S&P 500 Index (SP: .INX) slump 1.1%. The Nasdaq Composite Index (NASDAQ: .IXIC), meanwhile, dropped 0.9%.

Their tumble came as the United States prepared to learn of the Federal Reserve’s next interest rate decision.

The S&P/ASX 200 Materials Index (ASX: XMJ) was the Aussie bourse’s biggest weight on Wednesday, falling 2.64%. Only a handful of the market’s biggest material stocks closed in the green today.

The S&P/ASX 200 Energy Index (ASX: XEJ) also dragged on the index. It fell 0.8% after both the Brent crude oil price and the US Nymex crude oil price slumped 1.5% to US$90.62 a barrel and US$84.45 a barrel respectively.

Today’s top-performing sector was the S&P/ASX 200 Communication Services Index (ASX: XTJ), lifting 0.07%.

Plenty of ASX 200 shares posted decent gains today. Keep reading to find out which stock outperformed all others.

Top 10 ASX 200 shares countdown

The index’s top-performing share on Wednesday was Washington H Soul Pattinson and Co Ltd (ASX: SOL).

The investment house posted its financial year 2022 earnings this morning, detailing a 154% year-on-year increase in after-tax profits.

Today’s biggest gains were made by these shares:

ASX-listed company	Share price	Price change
Washington H Soul Pattinson and Co Ltd (ASX: SOL)	$27.10	4.96%
Viva Energy Group Ltd (ASX: VEA)	$2.75	4.56%
Whitehaven Coal Ltd (ASX: WHC)	$8.96	3.82%
New Hope Corporation Limited (ASX: NHC)	$6.16	3.7%
BrainChip Holdings Ltd (ASX: BRN)	$0.91	2.82%
Telstra Corporation Ltd (ASX: TLS)	$3.84	1.05%
Pilbara Minerals Ltd (ASX: PLS)	$4.94	1.02%
Lake Resources NL (ASX: LKE)	$1.06	0.95%
Chalice Mining Ltd (ASX: CHN)	$4.03	0.75%
Event Hospitality and Entertainment Ltd (ASX: EVT)	$13.26	0.61%

Our top 10 ASX 200 shares countdown is a recurring end-of-day summary to let you know which companies were making big moves on the day. Check in at Fool.com.au after the weekday market closes to see which stocks make the countdown.

The post Here are the top 10 ASX 200 shares today appeared first on The Motley Fool Australia.

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More reading

• These three ASX lithium shares defied Wednesday’s selloff
• Do BrainChip shares pay dividends?
• Why Air New Zealand, Cronos, Soul Patts, and Viva Energy shares are pushing higher
• 3 ASX 200 shares paying out ‘special’ dividends in 2022
• Here are the 3 most heavily traded ASX 200 shares on Wednesday

Motley Fool contributor Brooke Cooper 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 Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Telstra Corporation Limited and Washington H. Soul Pattinson and Company Limited. 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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