Looking for a source of income from the share market? Then take a look at the ASX 200 stocks listed below.
Brokers have named them as buys and tipped to provide income investors with good dividend yields. Here's what you need to know about them:
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Inghams Group Ltd (ASX: ING)
The first ASX 200 income stock to look at is Inghams. It is Australia's leading poultry producer and supplier.
The team at Morgans is feeling very positive about the company and has described its shares as "undervalued" at current levels. This is because it believes Inghams deserves to trade on higher multiples due to its market leadership position and favourable consumer eating trends.
In respect to income, Morgans is forecasting fully franked dividends of 22 cents per share in both FY 2024 and FY 2025. Based on the current Inghams share price of $3.60, this equates to dividend yields of 6.1% for both years.
Morgans has an add rating and $4.25 price target on its shares.
Stockland Corporation Ltd (ASX: SGP)
Another ASX 200 income stock that could be a buy according to brokers is Stockland. It is Australia's largest community creator. It owns, manages, and develops retail town centres, workplace and logistics assets, residential and land lease communities.
Morgan Stanley is a fan of the company and believes it is well-placed to reward investors with big dividend yields in the near term.
It is forecasting Stockland to pay dividends per share of 24.6 cents in FY 2024 and then 25.8 cents in FY 2025. Based on the current Stockland share price of $4.24, this will mean yields of 5.8% and 6.1% yields, respectively.
Super Retail Group Ltd (ASX: SUL)
A final ASX 200 income stock that could be in the buy zone right now is Super Retail. It is the retail conglomerate behind popular store brands BCF, Macpac, Rebel, and Super Cheap Auto.
Goldman Sachs is very positive about the company in the current complex environment. This is largely due to its vast loyalty program. It highlights that Super Retail is "building a competitive advantage through 11.1mn members and 76% sales to members." Its analysts expect this to "help drive sales in a more complex operating environment."
Goldman expects Super Retail 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 $13.90, this will mean dividend yields of 4.8% and 5.25%, respectively.
The broker currently has a buy rating and $17.80 price target on its shares.
