The ASX 200 index is home to a large number of companies that reward their shareholders with dividends each year.
Two that offer investors particularly generous yields right now are listed below. Here's why these ASX 200 dividend shares have been tipped as buys:
Bank of Queensland Limited (ASX: BOQ)
Bank of Queensland could be an ASX 200 dividend share to buy.
It is a challenger to the big four banks and the owner of the Bank of Queensland, ME Bank, and Virgin Money Australia brands.
The team at Citi is positive on the company. Although it suspects that mortgage loan growth could slow as rates rise, it expects cost synergies from the ME Bank acquisition to be supportive of earnings growth.
In light of this, Citi has put a buy rating and $8.75 price target on the bank's shares. This compares very favourably to the current Bank of Queensland share price of $6.63.
But it gets better. Citi is forecasting fully franked dividends per share of 46 cents in FY 2022 and then 50 cents per share in FY 2023. This will mean very big yields of 6.9% and 7.5%, respectively.
Wesfarmers Ltd (ASX: WES)
Another ASX 200 dividend share that could be in the buy zone is Wesfarmers.
It is the conglomerate behind a collection of high quality businesses such as Bunnings, Coregas, Covalent Lithium, Kmart, and Officeworks.
Analysts at Morgans are big fans of the company and believe its "highly regarded management team" and "quality retail portfolio" have positioned it well for growth in the coming years.
As a result, the broker currently has an add rating and $55.60 price target on its shares.
As for dividends, Morgans is forecasting fully franked dividends per share of $1.82 in FY 2023 and $1.89 in FY 2024. Based on the current Wesfarmers share price of $44.02, this will mean yields of 4.1% and 4.3%, respectively.
