There are a good number of quality ASX 100 dividend shares to choose from on the Australian share market.
To narrow things down, I have picked out two that have been named as buys by brokers recently. Here's what they are saying about them:
Rio Tinto Ltd (ASX: RIO)
According to a recent note out of Goldman Sachs, its analysts believe that Rio Tinto is an ASX 100 dividend share to buy.
Goldman reveals that this partly due 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 its dividend yield, 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 $114.58, this will mean yields of 7.1% and 6.1%, respectively.
Goldman currently has a conviction buy rating and $136.20 price target on Rio Tinto's shares.
Telstra Group Ltd (ASX: TLS)
A note out of Morgans reveals that its analysts believe that Telstra is an ASX 100 dividend share to buy.
The broker advised that this is due partly to its attractive valuation and the potential for value to be unlocked from asset divestments. Morgans notes that Telstra's "high quality long life assets like InfraCo are worth substantially more" than the market is valuing them.
Its analysts currently have an add rating and $4.70 price target on its shares.
As for dividends, the broker is forecasting fully franked dividends per share of 17 cents in both FY 2023 and FY 2024. Based on the current Telstra share price of $4.31, this will mean yields of 3.95%.
