Income investors have a lot of options on the Australian share market.
So much so, it can be hard to decide which ASX dividend shares to buy.
But never fear, listed below are three options that are rated highly by brokers. They are as follows:
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Coles Group Ltd (ASX: COL)
The team at Morgans thinks investors should be snapping up this supermarket giant's shares.
In response to its half-year results last month, the broker has put an add rating and $18.70 price target on its shares.
As for dividends, it is now forecasting fully franked dividends of 66 cents per share in FY 2024 and 69 cents per share in FY 2025. Based on the current Coles share price of $16.75, this implies dividend yields of approximately 4% and 4.1%, respectively.
QBE Insurance Group Ltd (ASX: QBE)
Over at Goldman Sachs, its analysts think that this insurance giant is a great option for income investors.
It has a buy rating and $18.52 price target on the ASX 200 dividend share.
In respect to income, the broker is expecting dividends per share of 62 US cents in FY 2024 and 61 US cents in FY 2025. This equates to dividend yields of 5.5% and 5.45%, respectively, based on current exchange rates.
Super Retail Group Ltd (ASX: SUL)
A final ASX 200 dividend share that could be a buy is Super Retail.
Goldman Sachs also likes the owner of retail brands BCF, Macpac, Rebel, and Super Cheap Auto. It has a buy rating and $17.80 price target on its shares.
In addition, it is expecting the retailer to pay fully franked dividends per share of 67 cents in FY 2024 and then 73 cents in FY 2025. Based on the latest Super Retail share price of $14.87, this will mean yields of 4.5% and 4.9%, respectively.
