3 ASX 200 shares with strong dividend track records

ASX 200 shares have had a rollercoaster ride in 2020, but could these 3 companies with strong dividend histories be your best bet?

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S&P/ASX 200 Index (ASX: XJO) shares have been smashed in the 2020 bear market. Some of the biggest names are now trading 20-40% lower since the start of the year.

For many, that's a scary proposition. However, I prefer to look at it as a once in a generation buying opportunity.

In times like these, I like to look for companies with strong track records and stable management.

Here are 3 ASX 200 shares that have seen stable income growth in recent years which could be in the bargain basket.

3 ASX 200 shares with a history of strong dividends

Harvey Norman Holdings Limited (ASX: HVN) is a particularly solid ASX 200 dividend share.

The Aussie retailer is a household name here in Australia and boasts a $3.58 billion market capitalisation right now.

Impressively, the group's shares are also yielding 11.50% today. Of course, dividend yields can be misleading in these unprecedented times.

However, Harvey Norman has consistently boosted its dividends in recent decades. I like that track record and believe that even a temporary cut (and share price fall) could present a buying opportunity in 2020.

Another top ASX 200 dividend share I like is Magellan Financial Group Ltd (ASX: MFG). Magellan has a strong track record of outperformance and is a standout ASX wealth manager.

Magellan shares are down 15% since the start of the year but could be a long-term buy. With a 4.22% dividend yield and solid long-term returns, I wouldn't bet against the Magellan share price in 2021.

Finally, I like the look of Wesfarmers Ltd (ASX: WES) for $38.12 per share. The Aussie conglomerate has a diversified earnings profile and a whopping $43.22 billion market capitalisation.

Those are some solid numbers for an ASX 200 share given the current bear market. Wesfarmers has plenty of dry powder following its $1 billion sale of Coles Group Ltd (ASX: COL).

That could mean more acquisitions on the horizon or simply a strong balance sheet to ride out the COVID-19 storm.

Either way, I like the ASX 200 share's long-term prospects and dividend potential beyond 2020.

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET and Wesfarmers Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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