4 excellent ASX 200 dividend shares to buy for your income portfolio

Looking for an income boost? Analysts are tipping these shares as buys.

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Fortunately for Australian income investors, there are a lot of dividend-payers to choose from on the Australian share market.

To narrow things down, I have picked out four ASX dividend shares that brokers are bullish on right now. Here's what sort of yields they are forecasting from them:

Aurizon Holdings Ltd (ASX: AZJ)

The first ASX dividend share that could be a buy is Australia's largest rail freight operator, Aurizon.

The team at Ord Minnett is bullish on the company and has an accumulate rating and $4.70 price target on its shares.

As for dividends, its analysts are forecasting partially franked dividends of 17.8 cents per share in FY 2024 and then 24.3 cents per share in FY 2025. Based on the latest Aurizon share price of $3.81, this will mean dividend yields of 4.7% and 6.4%, respectively.

BHP Group Ltd (ASX: BHP)

Mining giant BHP could be another ASX dividend share to buy according to analysts at Goldman Sachs.

The broker thinks its shares are good value at current levels and is expecting some attractive yields in the near term.

It is forecasting fully franked dividends of US$1.42 (A$2.14) per share in FY 2024 and then US$1.26 (A$1.90) per share in FY 2025. Based on the current BHP share price of $42.91, this equates to dividend yields of 5% and 4.4%, respectively.

Goldman currently has a buy rating and $49.00 price target on the miner's shares.

HomeCo Daily Needs REIT (ASX: HDN)

Another ASX dividend share that could be a buy is HomeCo Daily Needs. It is a neighbourhood retail and large format retail focused property company.

Morgans likes the company. This is due to its resilient cashflows and its belief that HomeCo Daily Needs will be a beneficiary of accelerating click and collect trends.

In respect to income, Morgans expects dividends per share of 8 cents in FY 2024 and then 9 cents in FY 2025. Based on the current HomeCo Daily Needs share price of $1.25, this will mean yields of 6.4% and 7.2%, respectively.

The broker has an add rating and $1.37 price target on the

IPH Ltd (ASX: IPH)

A final ASX dividend share that could be a buy is IPH. It is an intellectual property solutions company with operations across the world.

Goldman Sachs thinks its shares are good value at current levels, particularly given the company's defensive qualities and organic growth potential.

The broker expects this to support the payment of fully franked dividends per share of 34 cents in FY 2024 and 37 cents in FY 2025. Based on the current IPH share price of $5.82, this represents yields of 5.8% and 6.35%, respectively.

Goldman has a buy rating and $8.70 price target on its shares.

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 recommended Aurizon, HomeCo Daily Needs REIT, and IPH. 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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