Earlier today, I looked at the top ASX 200 growth shares that Macquarie Group Ltd (ASX: MQG) has in its growth portfolio. You can read about those shares here.
The investment bank also has an income version that it notes represents a starting point to form a portfolio with income characteristics.
It also highlights that this portfolio is created with a focus on a higher degree of earnings certainty, backed by strong cash flows, and highly tax effective dividend income.
Among its top ASX 200 dividend share picks right now are the shares listed below:
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Telstra Group Ltd (ASX: TLS)
This telco giant takes the top spot in Macquarie's income portfolio with a weighting of 8.8%. It currently has an outperform rating and $4.50 price target on Telstra's shares. The broker is also forecasting a fully franked 17 cents per share dividend in FY 2023. Based on the current Telstra share price of $4.11, this represents a 4.1% dividend yield.
National Australia Bank Ltd (ASX: NAB)
The next biggest holding in the portfolio with a weighting of 8.4% is this ASX 200 banking share. However, it is worth noting that on this occasion, the broker only has a neutral rating and $31.00 price target on its shares. Nevertheless, with Macquarie forecasting a $1.61 per share fully franked dividend in FY 2023, which yields 5%, its analysts appear to believe NAB still deserves a spot in the portfolio.
Suncorp Group Ltd (ASX: SUN)
Another top holding in its income portfolio is Suncorp with a 7.1% weighting. Macquarie has an outperform rating and $16.30 price target on the banking and insurance giant's shares. As for dividends, it is forecasting an 81 cents per share fully franked dividend in FY 2023. This represents a 6.35% dividend yield based on the current Suncorp share price of $12.75.
