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Here are 2 ASX 200 dividend shares to buy according to experts

Here are two ASX 200 dividend shares that experts rate as buys….
The post Here are 2 ASX 200 dividend shares to buy according to experts appeared first on The Motley Fool Australia. –

Are you looking for some dividend options for your income portfolio this week? If you are, then take a look at the two ASX 200 dividend shares listed below.

Here’s why they have been tipped to as buys by experts:

Coles Group Ltd (ASX: COL)

The first ASX 200 dividend share for investors to consider is this supermarket giant.

Thanks to its strong market position (800+ supermarkets, 900+ liquor retail stores, and 700+ Coles express stores) and defensive qualities, Coles has been tipped to continue growing its sales, profits, and dividends in the coming years.

In addition, this will be supported by its refreshed strategy and the construction of its smart distribution centres, which are aiming to make its operations more efficient and cut costs.

Morgans is bullish on Coles and has an add rating and $20.65 price target on its shares.

In respect to dividends, Citi is forecasting fully franked dividends per share of 61 cents in FY 2022 and 64 cents in FY 2023. Based on the current Coles share price of $18.87, this will mean yields of 3.2% and 3.4%, respectively.

Westpac Banking Corp (ASX: WBC)

A second ASX 200 dividend share that could be in the buy zone is Westpac.

It is of course one of Australia’s big four banks and, as well as the eponymous Westpac brand, is home to a collection of other regional banking brands such as Bank of Melbourne, Bank SA, and St Georges.

Australia’s oldest bank is currently going through a major cost cutting programme that aims to reduce its cost base materially in the coming years.

It is partly for this reason that the team at Citi is bullish on the bank. In fact, its analysts see Westpac “delivering the strongest EPS growth in the sector” in the coming years.

Citi has a buy rating and $29.00 price target on the bank’s shares.

It is also forecasting big fully franked dividend yields for investors. It has pencilled in dividends of 123 cents per share in FY 2022 and 155 cents per share in FY 2023. Based on the current Westpac share price of $21.05, this will mean yields of 5.8% and 7.35%, respectively.

The post Here are 2 ASX 200 dividend shares to buy according to experts appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

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More reading

Brokers rate these ASX dividend shares as buys
Own Westpac shares? Why the major bank could soon make a crypto splash
Why did the ANZ share price smash the other ASX 200 banks today?
Can the Coles share price beat the ASX 200 again in FY23?
RBA in the spotlight; and Westpac hikes fixed rates. Scott Phillips on Nine’s Late News

Motley Fool contributor James Mickleboro has positions in Westpac Banking Corporation. 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 positions in and has recommended COLESGROUP DEF SET. 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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