Looking for dividends? Well, the Australian share market certainly is a good place to start the search.
That's because the ASX traditionally provides investors with an average dividend yield of approximately 4%.
However, you don't have to settle for that yield. If you look around, you can find ASX 200 shares that are forecast to provide even greater yields.
For example, two high yield ASX 200 dividend shares that have been rated as buys are listed below. Here's what you need to know about these shares and their forecast yields:
Westpac Banking Corp (ASX: WBC)
The first ASX 200 dividend share that could provide investors with a big yield this year is Westpac.
According to a note out of Goldman Sachs, its analysts are expecting the big four bank to reward shareholders with a fully franked dividend of 148.4 cents per share in FY 2023.
Based on the current Westpac share price of $23.90, this will mean an attractive 6.2% dividend yield for investors.
Goldman also sees a lot of value in the shares of Australia's oldest bank. It has a conviction buy rating and $27.68 price target on them.
Woodside Energy Group Ltd (ASX: WDS)
Another ASX 200 share that analysts are expecting a big dividend yield from in 2023 is Woodside Energy.
A note out of Morgan Stanley reveals that its analysts are expecting the energy giant to pay a fully franked $2.72 per share dividend in FY 2023. Based on the current Woodside share price of $36.39, this equates to a sizeable 7.5% dividend yield for investors.
Morgan Stanley also sees plenty of upside for the Woodside share price over the next 12 months. It currently has an overweight rating and $41.00 price target on the energy producer's shares.
