Income investors who are looking for dividend shares to buy might want to read on. That's because listed below are three ASX 200 dividend giants that analysts are recommending.
Here's what you need to know about them:
Coles Group Ltd (ASX: COL)
The first ASX 200 dividend share that could be a buy is Coles. It is one of the big two supermarket operators in Australia.
Citi is bullish on the company and currently has a buy rating and $18.30 price target on its shares.
In respect to dividends, the broker is forecasting fully franked dividends of 61 cents per share in FY 2024 and 68 cents per share in FY 2025. Based on the current Coles share price of $14.95, this will mean yields of 4.1% and 4.5%, respectively.
Rio Tinto Ltd (ASX: RIO)
This mining giant could be an ASX 200 dividend share to buy according to analysts at Goldman Sachs. They believe its shares have a "compelling relative valuation" at present.
Goldman currently has a buy rating and a $126.50 price target on the miner's shares.
As for income, the broker is forecasting fully franked dividends per share of US$3.86 (A$6.12) in FY 2023 and then US$3.71 (A$5.88) in FY 2024. Based on the latest Rio Tinto share price of $116.27, this will mean yields of 5.25% and 5.05%, respectively.
Telstra Group Ltd (ASX: TLS)
A final ASX 200 dividend share that could be a buy is Australia's leading telecommunication company, Telstra.
Goldman Sachs is also positive on the company and has a buy rating and a $4.70 price target on its shares.
The broker is forecasting fully franked dividends of 18 cents per share in FY 2024 and then 20 cents per share in FY 2025. Based on the current Telstra share price of $3.87, this equates to fully franked yields of 4.65% and 5.15%, respectively.
