If you're building an income portfolio, then it could be worth looking at the ASX 200 dividend stocks named below.
Here's why they could be good options for income investors this month:
Cedar Woods Properties Limited (ASX: CWP)
Morgans thinks this property company could be a good ASX 200 dividend stock to buy.
The broker highlights that "CWP is a volume business and the demand for lots looks to be improving, with margins to invariably follow."
It expects this to support the payment of dividends per share of 18 cents in FY 2024 and then 20 cents in FY 2025. Based on the current Cedar Woods Properties share price of $4.80, this equates to dividend yields of 3.75% and 4.15%, respectively.
Morgans has an add rating and $5.60 price target on its shares.
Coles Group Ltd (ASX: COL)
Another ASX 200 dividend stock that has been named as a buy is Coles. It is one of the big two supermarket operators with over 800 stores across Australia. In addition, the company has a liquor network comprising almost 1,000 stores across several brands and joint ownership of the Flybuys loyalty program.
Morgans is also feeling positive about Coles and sees it as a great option for income investors. This is due partly to its cost reduction plans and stronger than expected sales growth.
As for dividends, the broker is 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 $17.35, this will mean dividend yields of 3.8% and 4%, respectively.
Morgans has an add rating and $18.95 price target on its shares.
Telstra Group Ltd (ASX: TLS)
Goldman Sachs is feeling even more positive about this telco giant after an update this week and sees it as an ASX 200 dividend stock to buy.
It notes that Telstra's price increase update "highlight: (1) mobile market rationality remains (particularly when combined with the recent Optus increase); (2) TLS mobile earnings growth remains strong, driven by subscribers and ARPU."
The broker believes this will now underpin fully franked dividends of 18 cents per share in FY 2024 and then 19 cents per share in FY 2025. Based on the current Telstra share price of $3.82, this equates to yields of 4.7% and 5%, respectively.
Goldman has a buy rating and $4.30 price target on Telstra's shares.
