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8 ASX 200 dividend shares set to outperform: Macquarie

The broker says these ASX 200 dividend stocks are great buys and likely to outperform the market in FY25.

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Bronwyn Allen
Author bio Bronwyn has 28 years of experience in journalism, copywriting, and media relations. She began her career as a reporter with News Corporation in Sydney in 1997. She later worked for two real estate corporations in communications and PR roles, then started her own freelance copywriting and publicity business. A keen shares investor, Bronwyn joined the Motley Fool Australia team as a copy editor and writer in June 2021. Areas of expertise ASX shares and ETFs News writing Macroeconomic trends Real estate Education Diploma in Journalism, Macleay College Social media LinkedIn Favorite investment quote "Don't look for the needle in the haystack. Just buy the haystack." — John C. Bogle, Vanguard founder and pioneer of index investing for ordinary investors
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Top broker Macquarie has named a small collection of ASX 200 dividend shares that it expects to outperform over the next 12 months.

There are eight stocks out of 19 that have an outperform rating in Macquarie's latest model income portfolio.

Let's find out how much share price growth and the dividend payments it expects for each stock in FY25.

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8 ASX 200 dividend shares to buy in August

Telstra Group Ltd (ASX: TLS)

This ASX 200 communications share is trading for $3.98, up 2.71% for the day so far.

Macquarie has a 12-month share price target of $4.30 on Telstra. This implies a potential 8% upside for investors who buy Telstra shares today.

The broker expects Telstra to pay a dividend of about 19 cents per share in FY25. This equates to a dividend yield of 4.77%.

APA Group (ASX: APA)

This ASX 200 utilities share is trading for $7.97, up 0.70% for the day.

Macquarie has a 12-month price target of $9.40 on APA shares. This implies a potential 18% upside for investors who buy APA shares today.

The broker expects this ASX 200 dividend share to pay about 60 cents in FY25, equating to a yield of 7.5%.

Viva Energy Group Ltd (ASX: VEA)

This ASX 200 energy share is trading for $3.13, down 0.16% so far on Thursday.

Macquarie has a share price target of $4.25 on Viva. This implies a potential 36% upside for investors who buy the ASX 200 dividend share today.

The broker expects Viva Energy shares to pay a 15-cent per share dividend in FY25. That equates to a small dividend yield of 1.9%.

Metcash Ltd (ASX: MTS)

This ASX 200 consumer staple share is trading for $3.60, up 0.70% for the day.

Macquarie has a 12-month share price target of $4.20 on the company. This implies a potential 17% upside for investors who buy the ASX 200 dividend share today.

The broker anticipates Metcash to pay a dividend of about 19 cents per share in FY25, equating to a yield of 5.3%.

Coles Group Ltd (ASX: COL)

The Coles share price is $18.36, up 0.49% for the day.

Macquarie has a 12-month share price target of $19.40 on Coles. This implies a small potential upside of about 5.5%-plus for investors who buy the ASX 200 dividend share today.

Macquarie anticipates Coles shares to pay a 70-cent per share dividend in FY25, equating to a yield of 3.8%.

GPT Group (ASX: GPT)

This ASX 200 property share is trading for $4.60, up 0.22% for the day.

Macquarie has a share price target of $4.70 on GPT, so the stock is very close to the target now.

The broker reckons this ASX 200 dividend share will pay about 24 cents per share in FY25. This means a dividend yield of 5.2%.

Amotiv Ltd (ASX: AOV)

This ASX 200 consumer discretionary stock is trading for $10.70, up 1.04% for the day.

Macquarie has a 12-month share price target of $12.65 on the company. This implies a potential 17% upside for investors who buy Amotiv shares today.

The broker expects this ASX 200 dividend share to pay about 42.5 cents in FY25, equating to a yield of 3.95%.

Amcor CDI (ASX: AMC)

This ASX 200 materials sector share has slipped 0.12% to $16.14 apiece today.

Macquarie thinks the share price may fall. Its 12-month target is $15.40, but the broker maintains an outperform rating on the stock.

The broker anticipates Amcor to pay a 75.5-cent per share dividend in FY25, equating to a yield of 4.67%.

Motley Fool contributor Bronwyn Allen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Amcor Plc, Apa Group, Coles Group, and Telstra Group. The Motley Fool Australia has recommended Metcash. 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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