We're still fairly new to 2023, despite the first month just passing us by. But what a year it has been for the ASX share market thus far. Since the start of 2023, the S&P/ASX 200 Index (ASX: XJO) has rallied by an impressive 8.35%. But that doesn't mean we shouldn't be thinking about which ASX 200 dividend shares to buy next.
Overall, shares go up far more often than they go down. So if we're always waiting for a cheap time to enter the market, we could be waiting years. And that's years of valuable dividend compounding we could miss out on.
So here is where I would think about deploying $20,000 in ASX dividend shares this year if I was lucky enough to have some cash fall in my lap.
2 ASX 200 dividend shares I would buy in 2023
National Australia Bank Ltd (ASX: NAB)
I already own some NAB shares, but I would happily buy more in 2023 with some of that $20,000. Under NAB's CEO Ross McEwan, I think this ASX bank share has built itself into one of the best options out of the big four.
Unlike its rival Commonwealth Bank of Australia (ASX: CBA), NAB is less reliant on the massive mortgage market, with its historical focus on business lending. As such, I consider it to be a classic blue-chip investment that should prosper alongside the Australian economy over time.
There's also NAB's fat, fully franked 4.8% dividend yield to consider as well. This comes from NAB jacking up its dividends meaningfully in 2022. The bank paid out $1.27 in dividends per share in 2021, but hiked this to $1.51 per share last year.
Harvey Norman Holdings Limited (ASX: HVN).
Of all the ASX 200 dividend shares out there, Harvey Norman would have to be one of the cheapest on the market today. The veteran ASX retailer currently trades with a price-to-earnings (P/E) multiple of just 6.9. That's stupendously cheap for a long-term stalwart like Harvey Norman in my view.
This cheap share price has resulted in the company possessing a monstrous trailing dividend yield of 8.42%, based on the company raising its dividend from 35 cents per share in 2021 to 37.5 cents per share in 2022. Those dividends come fully franked too. So this ASX 200 share I would find hard to turn down as well.
