If you're looking to boost your income with some dividend shares, then the two listed below could be worth considering.
Analysts have recently named these ASX 200 dividend giants as buys. Here's what you need to know about them:
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BHP Group Ltd (ASX: BHP)
The first ASX 200 dividend share to look at is BHP. This mining giant is the owner of a portfolio of world class operations across a diverse range of commodities and geographies.
With commodity prices rallying hard this year, BHP has been generating significant free cash flow again. This has many analysts tipping the Big Australian to reward shareholders with big dividends in the near term.
For example, Macquarie is forecasting fully franked dividends per share of ~$5.08 in FY 2022 and then ~$3.60 in FY 2023. Based on the current BHP share price of $53.56, this implies yields of 9.5% and 6.7%, respectively.
Furthermore, although the BHP share price has stormed 24% higher in 2022, Macquarie believes it can keep rising. The broker has an outperform rating and $61.00 price target on the miner's shares.
Westpac Banking Corp (ASX: WBC)
Another ASX 200 dividend share that could be a buy is banking giant Westpac.
Australia's oldest bank's shares have underperformed many other big banks materially over the last 12 months. This has been driven by concerns over its margins and ability to deliver on its cost cutting plans.
The team at Morgans isn't concerned and remain very positive on the bank's outlook and cost reduction plans. In light of this, the broker believes Westpac's shares are great value at the current level.
In addition, the broker is expecting Westpac to pay fully franked dividends per share of $1.19 in FY 2022 and $1.60 in FY 2023. Based on the current Morgans share price of $24.38, this will mean yields of 4.9% and 6.6%, respectively, over the next two years.
Morgans has an add rating and price target of $29.50 on its shares.
