There are plenty of options for income investors on the Australian share market. This can make it hard to decide which ASX 200 dividend stocks to buy for your portfolio.
In order to narrow things down, I have picked out a couple of dividend giants that analysts rate as buys. Here's what you need to know about them:
ANZ Group Holdings Ltd (ASX: ANZ)
The first ASX 200 dividend stock for income investors to consider buying is banking giant ANZ.
The team at Citi is very positive on the bank and believes its "unique capabilities as set to deliver relative outperformance in the current market conditions." As a result, ANZ is Citi's "preferred Major Bank exposure" and has put a buy rating and $26.50 price target on its shares.
Another positive is that Citi expects some big dividend yields from its shares in the near term following recent share price weakness. It is forecasting fully franked dividends of 164 cents per share in FY 2023 and then 166 cents per share in FY 2024. Based on the current ANZ share price of $22.92, this will mean yields of 7.15% and 7.25%, respectively.
Telstra Group Ltd (ASX: TLS)
Another ASX 200 dividend stock for income investors to look at is Telstra. It is of course Australia's largest telco.
Morgans is very positive on the telco giant and has the company on its best ideas list with an add rating and $4.70 price target. This is due to its much-improved outlook and opportunities to unlock value through asset sales.
As for dividends, the broker is forecasting 17 cents per share fully franked dividends in both FY 2023 and FY 2024. Based on the current Telstra share price of $4.36, this will mean yields of 3.9% for investors.
