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:
BHP Group Ltd (ASX: BHP)
The first ASX 200 dividend share that could be in the buy zone is BHP.
Thanks to its world class operations and favourable commodity prices, the Big Australian has been generating significant free cash flow again. And with this trend expected to continue, this could bode well for dividend payments in the coming years.
In fact, Goldman Sachs is forecasting fully franked dividends per share of US$3.50 in FY 2022 and then ~US$2.65 in FY 2023. Based on the current BHP share price of $42.76 and current exchange rates, this implies yields of 11.9% and 9%, respectively.
Goldman Sachs also sees plenty of value in the BHP share price at currently levels. Earlier this week the broker resumed coverage on its shares with a buy rating and $49.40 price target.
Telstra Corporation Ltd (ASX: TLS)
Another ASX 200 share that could be in the buy zone is this telco giant.
It could be a top option due to its attractive valuation, strong free cash flow generation, and improving outlook. In respect to the latter, Telstra's new T25 strategy has been designed to underpin solid earnings growth in the coming years. This could bode well for dividend payments.
For now, the team at Morgans is forecasting fully franked dividends per share of 16 cents in FY 2022 and FY 2023. Based on the current Telstra share price of $3.89, this will mean yields of 4.1%.
Morgans also sees decent upside for Telstra's shares. It has an add rating and $4.56 price target on its shares.
