3 top ASX 200 income stocks to buy now

Brokers think these stocks could be good options for income investors.

| More on:
a man wearing casual clothes fans a selection of Australian banknotes over his chin with an excited, widemouthed expression on his face.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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:

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.

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 and Super Retail Group. The Motley Fool Australia has positions in and has recommended Super Retail Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

Two women happily smiling and working on their computers in an office
Dividend Investing

Which ASX 200 communications share will pay the best dividend yield in 2025?

Several communications stocks are expected to pay dividend yields above the ASX 200 Index average of 4%.

Read more »

Man holding Australian dollar notes, symbolising dividends.
Dividend Investing

Why these ASX dividend shares could be buys for income investors

Analysts are tipping these shares as buys for income seekers. Let's see what they are forecasting.

Read more »

A businessman lights up the fifth star in a lineup, indicating positive share price for a top performer
Dividend Investing

Bell Potter names 2 of the best ASX dividend stocks to buy

Let's find out why the broker is feeling bullish on these names.

Read more »

Stethoscope with a piggy bank and hundred dollar notes.
Healthcare Shares

Which ASX 200 healthcare share will pay the best dividend yield in 2025?

Earnings season is underway and dividend announcements are on investors' minds.

Read more »

A person is weighed down by a huge stack of coins, they have received a big dividend payout.
Dividend Investing

Looking to bag the record high ResMed dividend? You better hurry!

Unlike the majority of ASX 200 income stocks, ResMed pays dividends every quarter.

Read more »

Man smiling at a laptop because of a rising share price.
Dividend Investing

Is this under-the-radar ASX dividend share a top buy for 2025?

This business looks like an underrated passive income opportunity.

Read more »

A man and woman high five each while sitting down after working out at the gym.
Dividend Investing

3 excellent ASX dividend stocks to buy with $3,000

Analysts think these shares could be top picks for your hard-earned money.

Read more »

A businessman hugs his computer and smiles.
Dividend Investing

2 top ASX dividend shares to buy and hold for 10 years

Analysts think these shares could be great long term options for income investors.

Read more »