Are you looking for ASX 200 dividend shares to buy for a second income? If you are, then you may want to check out the two listed below that have been named as buys.
Here's why they could help you in your second income quest:
Harvey Norman Holdings Limited (ASX: HVN)
Goldman Sachs believes that recent weakness in the Harvey Norman share price could have created a buying opportunity for investors. Especially for those searching for big dividend yields!
The broker believes the market is undervaluing Harvey Norman and highlights that its shares are trading at just 6x FY 2024 estimated earnings ex-property. This is notably cheaper than its rivals.
Goldman currently has a buy rating and $4.70 price target on the retailer's shares.
As for dividends, the broker is expecting fully franked dividends per share of 36 cents in FY 2023 and then 30 cents in FY 2024. Based on the current Harvey Norman share price of $3.71, this will mean yields of 9.7% and 8.1%, respectively.
Macquarie Group Ltd (ASX: MQG)
Morgans is a fan of this investment bank and is tipping it as a buy.
The broker believes Macquarie is well-placed for the long term thanks thanks to its "exposure to long-term structural growth areas such as infrastructure and renewables." It also highlights its potential to "benefit from recent market volatility through its trading businesses."
In respect to dividends, the broker is expecting Macquarie to pay partially franked dividends of $8.28 per share in FY 2023 and $7.64 per share in FY 2024. Based on the current Macquarie share price of $171.32, this implies yields of 4.8% and 4.45%, respectively.
Morgans has an add rating and $222.80 price target on Macquarie's shares.
