3 ASX 200 dividend shares to buy for 2022 and beyond

These ASX dividend shares are poised to reward shareholders generously in 2022 and beyond…

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As was widely expected, the Reserve Bank kept the cash rate on hold at a record low of 0.1% in 2021.

Although the outlook for interest rates is now improving, most economists believe 2022 is still too soon for a rate hike. For example, the team at Westpac Banking Corp (ASX: WBC) expect the cash rate to stay on hold at 0.1% for the entirety of 2022 before rising to 0.25% in March 2023.

And even then, it could be years before rates rise to a level that makes term deposits a liveable source of income.

In light of this, dividend shares look set to remain one of the best ways to generate a passive income in 2022 and for a number of years beyond.

With that in mind, listed below are three ASX 200 dividend shares analysts are tipping as both buys and generous dividend payers.

Australia and New Zealand Banking GrpLtd (ASX: ANZ)

This banking giant could be an ASX 200 dividend share to buy according to the team at Bell Potter. Its analysts currently have a buy rating and $30.00 price target. Thanks to its strong position in business banking, Bell Potter is expecting ANZ to be able to reward shareholders with fully franked dividends per share of 144 cents in FY 2022, 151 cents in FY 2023, and 154 cents in FY 2024. Based on the current ANZ share price of $27.40, this will mean yields of 4.8%, 5.5%, and 5.6%, respectively.

South32 Ltd (ASX: S32)

This mining giant could be a top option for income investors according to the team at Goldman Sachs. This is due to its diverse operations and exposure to in-demand commodities such as aluminium. Goldman expects South32’s free cash flow to support fully franked dividend yields greater than 10% per annum for the next five years. Its analysts currently have a conviction buy rating and $4.40 price target on South32’s shares.

Telstra Corporation Ltd (ASX: TLS)

Goldman Sachs is also very positive on this telco giant thanks to its T22 and T25 strategies. It expects these to underpin fully franked dividends of 16 cents per share in FY 2022 and FY 2023, and then 18 cents per share in FY 2024 and 19 cents per share in FY 2025. Based on the current Telstra share price of $4.12, this will mean fully franked yields 3.9% and then 4.35% and 4.6%, respectively. Goldman has a buy rating and $4.40 price target on the company’s shares.

Motley Fool contributor James Mickleboro owns 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 owns and has recommended Telstra Corporation Limited. 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 Bruce Jackson.

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