Are you in the market for some ASX dividend shares? If you are, check out the two listed below that are from very different sides of the market.
Here's why analysts are tipping these as buys for income investors:
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Rio Tinto Ltd (ASX: RIO)
This mining giant could be an ASX 200 dividend share to buy. That's the view of analysts at Goldman Sachs, which believe it has a "compelling relative valuation" at present.
Goldman currently has a buy rating and a $126.90 price target on the miner's shares.
In respect to dividends, the broker is forecasting fully franked dividends per share of US$3.49 (A$5.44) in FY 2023 and then US$4.05 (A$6.32) in FY 2024. Based on the latest Rio Tinto share price of $107.90, this will mean yields of 5% and 5.85%, respectively.
Transurban Group (ASX: TCL)
Another ASX 200 dividend share that could be a buy for income investors is Transurban. It is a toll road operator with a portfolio of roads across Australia and North America.
Citi is very positive on the company and has a buy rating and a $15.90 price target on its shares.
As for income, it is forecasting dividends per share of 63.4 cents in FY 2024 and then 64.6 cents in FY 2025. Based on the current Transurban share price of $13.08, this will mean yields of 4.85% and 4.9%, respectively.
Westpac Banking Corp (ASX: WBC)
This banking giant could be a final ASX 200 dividend share to buy right now according to analysts at Morgans.
While disappointed with its cost performance this year, the broker remains positive on Australia's oldest bank due to its attractive valuation. It has an add rating and a $23.02 price target on its shares.
As for dividends, Morgans is forecasting fully franked dividends of $1.46 per share in FY 2023 and then $1.47 per share in FY 2024. Based on the current Westpac share price of $21.32, this will mean yields of 6.85% and 6.9%, respectively.
