The good news for income investors is that the Australian share market is home to plenty of dividend shares. This makes it a great place to generate a second income.
But which ASX 200 dividend shares could be good options right now?
Three that analysts rate as buys are named below:
Stockland Corporation Ltd (ASX: SGP)
The first ASX 200 dividend share that could be a buy is Stockland. It is a residential and land lease developer and retail, logistics, and office real estate property manager.
Last week, Citi once again named Stockland as its "preferred exposure among the residential landlords" due to its "view of a better-than-market expected residential cycle and strong growth in the non-residential portions of the business."
Its analysts expect this to underpin dividends per share of 27 cents in FY 2024 and FY 2025. Based on the current Stockland share price of $3.71, this will mean sizeable yields of 7.3% in both financial years.
Citi has a buy rating and a $5 price target on its shares.
Super Retail Group Ltd (ASX: SUL)
Another ASX 200 dividend share that could be a buy is Super Retail. It is the retail group behind the BCF, Macpac, Rebel, and Super Cheap Auto brands.
Goldman Sachs is bullish on the retailer in the current environment thanks to its strong brands and vast loyalty program.
As for income, the broker is expecting fully franked dividends per share of 62 cents in FY 2024 and then 64 cents in FY 2025. Based on the current Super Retail share price of $12.00, this will mean yields of 5.15% and 5.3%, respectively.
Goldman has a buy rating and a $14.40 price target on its shares.
Transurban Group (ASX: TCL)
A final ASX 200 dividend share that has been named as a buy is Transurban. It is one of the world's leading toll road operators with 22 roads across Australia and North America.
Citi is also positive on Transurban due to its "strong EBITDA growth outlook (c.12% CAGR between Fy24-FY26."
Its analysts are expecting this to support dividends per share of 63 cents in FY 2024 and then 65 cents in FY 2025. Based on the current Transurban share price of $11.97, this will mean yields of 5.25% and 5.4%, respectively.
Citi has a buy rating and a $15.90 price target on its shares.