If you're looking to boost your income with some ASX 200 dividend shares, then you may want to consider the ones listed below.
Both have been rated as buys and are expected to provide investors with attractive yields in the near term. Here's what you need to know about them:
Image source: Getty Images
QBE Insurance Group Ltd (ASX: QBE)
The first ASX 200 dividend share to consider buying is QBE.
It is one of the world's largest insurance companies offering a range of products to customers across the globe.
Morgans is very positive on the company and has named on its best ideas list again this month. The broker is attracted to its cheap valuation and positive outlook from rate increases and cost reductions. It said:
With strong rate increases still flowing through QBE's insurance book, and further cost-out benefits to come, we expect QBE's earnings profile to improve strongly over the next few years. The stock also has a robust balance sheet and remains relatively inexpensive overall trading on 9x FY23F PE.
In respect to dividends, the broker is expecting dividends per share of 83 cents in FY 2023 and 94 cents in FY 2024. Based on the latest QBE share price of $13.90, this will mean yields of 6% and 6.75%, respectively.
Morgans has an add rating and $16.96 price target on its shares.
Westpac Banking Corp (ASX: WBC)
Another ASX 200 dividend share to buy could be banking giant Westpac.
While the banks may not be getting much love right now, the recent weakness could have created a buying opportunity for investors.
Goldman Sachs appears to believe that is the case. It continues to rate Australia's oldest bank highly and has it on its conviction list. This is due to its belief that the bank can generate strong returns for investors thanks to improving net interest margins and its bold cost cutting plans.
The broker is expecting this to lead to fully franked dividends per share of 147 cents in FY 2023 and 156 cents in FY 2024. Based on the current Westpac share price of $21.52, this will mean yields of 6.8% and 7.25%, respectively.
Goldman has a conviction buy rating and $27.74 price target on its shares.
