3 ASX 200 dividend shares to buy according to brokers

Income investors might want to check out these top dividend payers.

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Fortunately for Aussie income investors, there are lots of ASX 200 dividend shares trading on the local share market. But which ones could be buys?

Three that have been given the thumbs up by analysts are listed below. Here's what sort of dividend yields you can expect from them:

Deterra Royalties Ltd (ASX: DRR)

The first ASX 200 dividend share that analysts are positive on is Deterra Royalties.

It is focused on the management and growth of a portfolio of royalty assets across a range of commodities. Deterra's existing portfolio includes royalties held over Mining Area C, its cornerstone asset, in the Pilbara region of Western Australia, as well as five smaller royalties including Yoongarillup/Yalyalup, Wonnerup, Eneabba, and St Ives.

The team at Morgan Stanley likes the company and has an overweight rating and $5.65 price target on its shares.

As for income, the broker is forecasting Deterra Royalties to pay fully franked dividends per share of 37 cents in FY 2024 and 34 cents in FY 2025. Based on the current Deterra Royalties share price of $4.76, this will mean yields of 7.8% and 7.1%, respectively.

Stockland Corporation Ltd (ASX: SGP)

Another ASX 200 dividend share that could be a buy is Stockland.

Last month, the team at Morgan Stanley retained its buy rating and $5.10 price target on the shares of Australia's largest community creator. The broker is feeling positive about the company's proposed purchase of Lendlease's communities business and believes it will be earnings accretive if it completes.

In the meantime, Morgan Stanley is expecting dividends per share of 25.7 cents in FY 2024 and 26.5 cents in FY 2025. Based on the current Stockland share price of $4.68, this will mean yields of 5.5% and 5.7% yields, respectively.

Suncorp Group Ltd (ASX: SUN)

Over at Goldman Sachs, its analysts think that the insurance giant could be an ASX 200 dividend share to buy right now.

The broker currently has a buy rating and $17.54 price target on the company's shares.

It likes Suncorp due to "the tailwinds that exist in the general insurance market." It highlights that this includes "very strong renewal premium rate increases and the benefit of higher investment yields."

As for income, the broker is forecasting fully franked dividends per share of 78 cents in FY 2024 and 83 cents in FY 2025. Based on the current Suncorp share price of $16.42, this will mean yields of 4.75 and 5%, respectively.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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