There are a lot of ASX 200 dividend shares to choose from, but two that could be top picks right now are listed below.
Here's why analysts believe these could be the dividend shares to buy now:
Transurban Group (ASX: TCL)
The first ASX 200 dividend share to consider buying is Transurban.
It is one of the world's leading toll road operators with assets across Melbourne, Sydney, and Brisbane, as well as in Greater Washington, United States and Montreal, Canada.
Each day, millions of people use its roads in order to save time and get where they need to be quicker. In fact, the company recently reported record volumes during the first half of FY 2023. This bodes well for the future, particularly given its inflation-linked price increases. In addition, its development pipeline looks set to support its long-term growth.
UBS is positive on the company's outlook and has a buy rating and $15.45 price target on its shares.
As for dividends, the broker is forecasting dividends per share of 57 cents in FY 2023 and then 61 cents in FY 2024. Based on the current Transurban share price of $14.60, this will mean yields of 3.9% and 4.2%, respectively.
Westpac Banking Corp (ASX: WBC)
Australia's oldest bank could be another ASX 200 dividend share to buy.
That's the view of analysts at Goldman Sachs, which recently retained its conviction buy rating on the bank's shares with a $24.67 price target.
Although the broker was disappointed that Westpac has now walked away from its bold cost reduction targets, it still believes the bank's costs will be largely flat in the coming years. This is a good result in the current inflationary environment and is expected to be a source of outperformance for Westpac.
Goldman also expects Westpac's dividends to be flat in the next couple of years. It is forecasting fully franked dividends of 140 cents per share in both FY 2023 and FY 2024. Based on the current Westpac share price of $21.26, this equates to yields of 6.6% in both years.
