The Commonwealth Bank of Australia (ASX: CBA) share price has come under pressure with the rest of the market on Monday.
In morning trade, the banking giant's shares are down 1% to $92.74. This means the CBA share price is now down approximately 6% since this time last month.
While this is disappointing for shareholders, it does make the bank's shares more attractive for non-shareholders. Particularly given the generous dividend yields that its shares traditionally offer investors.
In light of this, let's take a look to see what the market is expecting from the CBA dividend in 2023.
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How big will the CBA dividend be in 2023?
As a reminder, the banking giant released its full year results in August and declared a fully franked final dividend of $2.10 per share.
This brought the CBA dividend for FY 2022 to a total of $3.85 per share, which was up 10% year over year.
The good news for investors is that the team at Credit Suisse is expecting another decent increase in FY 2023.
According to a recent note, its analysts are forecasting a fully franked $4.25 per share dividend over the next 12 months. This will be a 10.3% increase year over year and, thanks to recent weakness in the CBA share price, will mean a generous 4.6% dividend yield for investors.
Another positive is that although Credit Suisse only has a neutral rating on the shares of Australia's largest bank, its price target is meaningfully higher than current levels.
Credit Suisse has a price target of $102.80, which implies potential upside of almost 11% for investors. Including dividends, the total potential return widens to almost 16%.
