Fortunately for income investors, the ASX 200 is not short of dividend-paying stocks. This makes the share market a great place to generate passive income.
But which ASX 200 dividend stocks could be good options right now for a passive income boost? Two that have recently been rated as buys are named below:
Rio Tinto Ltd (ASX: RIO)
The team at Goldman Sachs believes that Rio Tinto is an ASX 200 dividend stock to buy.
This is due partly to the mining giant's "compelling relative valuation vs. peers (0.9xNAV vs. BHP 1.05xNAV and FMG 1.5xNAV), [and] strong FCF and Div yield with our bullish view on iron ore, aluminium and copper prices."
In respect to dividends, the broker is expecting Rio Tinto to pay fully franked dividends per share of US$5.36 (A$8.13) in FY 2023 and then US$4.68 (A$7.10) in FY 2024. Based on the latest Rio Tinto share price of $111.59, this will mean yields of 7.4% and 6.45%, respectively.
As mentioned above, Goldman also believes the company's shares are great value at the current level. It currently has a conviction buy rating and $136.20 price target on them, which implies potential upside of 22% for investors.
Stockland Corporation Ltd (ASX: SGP)
Over at Citi, its analysts believe that Stockland could be an ASX 200 dividend stock to buy. It is a residential and land lease developer and retail, logistics and office real estate property manager.
Citi feels the company's shares are trading at attractive level and highlights "a recovering resi backdrop" as a reason to be positive.
The broker is also forecasting some big dividend yields. It expects dividends per share of 26.6 cents in FY 2023 and FY 2024. Based on the current Stockland share price of $4.41, this will mean yields of 6% in both financial years.
Citi has a buy rating and $4.70 price target on Stockland's shares.
