Looking for ASX 200 dividend shares to buy? If you are, then you might want to check out the two listed below that are forecast to pay big dividends.
Here's what brokers are saying about these shares:
Suncorp Group Ltd (ASX: SUN)
The first ASX 200 dividend share that could be a buy is Suncorp.
It is one of Australia's leading insurance companies with a portfolio of brands including AAMI, Apia, Bingle, GIO, Shannons, Suncorp, and Vero.
Goldman Sachs is positive on the company. It commented:
We are favourably disposed to Suncorp, noting in large part the tailwinds that exist in the general insurance market – i.e., very strong renewal premium rate increases and the benefit of higher investment yields. We think the strong rate momentum that SUN is getting should likely offset volume pressures as they optimise their risk exposures in certain portfolios such as home but also likely policy lapses / buy downs.
As for dividends, the broker is forecasting fully franked dividends per share of 76 cents in FY 2024 and 81 cents in FY 2025. Based on the current Suncorp share price of $13.22, this will mean dividend yields of 5.75% and 6.1%, respectively.
Goldman Sachs has a buy rating and a $15.13 price target on its shares.
Super Retail Group Ltd (ASX: SUL)
Another ASX 200 dividend share that has tipped as a buy this month is Super Retail. It is the diversified retailer responsible for the BCF, Macpac, Rebel and Super Cheap Auto brands.
Morgans was pleased with the company's FY 2023 results and the declaration of a special dividend. Pleasingly, the broker doesn't believe that will be the last. It commented:
Super Retail Group reported positive growth in sales and earnings in FY23, despite cycling elevated comps. Better than expected margins meant NPAT was 9% higher than our estimates. SUL declared a 25c special dividend, and at this stage we think it will declare another one this time next year.
In respect to dividends, the broker is forecasting fully franked dividends per share of 89 cents in FY 2024 and then 73 cents in FY 2025. Based on the latest Super Retail share price of $12.83, this will mean generous yields of 6.9% and 5.7%, respectively.
Morgans has an add rating and a $15 price target on its shares.
