If you're looking for high-yield ASX 200 dividend stocks to buy, then you may want to check out the two listed below that brokers currently rate as buys.
Here's why they believe these are top options for income investors right now:
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Super Retail Group Ltd (ASX: SUL)
The first high-yield ASX 200 dividend stock that has tipped as a buy is Super Retail. It is the retailer behind the BCF, Macpac, Rebel, and Super Cheap Auto brands.
Analysts at Citi remain very positive on the company. This is because of its strong market position and the low cyclicality of key categories. It feels this bodes well for sales in the current consumer environment. It explains:
Overall, we think Super Retail is in a very solid position to manage the slowdown in the consumer environment given its excellent market positions in Auto and Sports and relatively low cyclicality of these categories.
As for dividends, Citi is forecasting fully franked dividends per share of 77 cents in FY 2023 and then 72 cents in FY 2024. Based on the latest Super Retail share price of $12.11, this will mean big yields of 6.35% and 5.9%, respectively.
Citi currently has a buy rating and a $14.50 price target on its shares.
Westpac Banking Corp (ASX: WBC)
Another high-yield ASX 200 dividend stock that could be a buy is banking giant Westpac.
Analysts at Morgans remain positive on the bank due to its potential to improve its return on equity metric. In fact, the broker believes it has the most improvement potential of the big four. It explains:
We view WBC as having the greatest potential for return on equity improvement amongst the major banks if its business transformation initiatives prove successful. The sources of this improvement include improved loan origination and processing capability, cost reductions (including from divestments and cost-out), rapid leverage to higher rates environment, and reduced regulatory credit risk intensity of non-home loan book. Yield including franking is attractive for income-oriented investors, while the ROE improvement should deliver share price growth.
In respect to dividends, the broker is expecting fully franked dividends per share of $1.49 in FY 2023 and $1.52 in FY 2024. Based on the current Westpac share price of $22.08, this will mean yields of 6.75% and 6.9%, respectively.
Morgans has an add rating and a $24.22 price target on its shares.
