If you are looking for ASX 200 dividend stocks to buy, then it could be worth checking out the two listed below.
They have been named on Bell Potter's Australian equities panel in November. The broker notes that this panel is home to its favoured Australian equities that offer attractive risk-adjusted returns over the long term.
Let's take a look at two dividend shares that feature on the list this month:
JB Hi-Fi Ltd (ASX: JBH)
The first ASX 200 dividend stock that could be a top option according to Bell Potter is retail giant JB Hi-Fi.
Bell Potter added the retailer to its Australian equities panel this month due to its belief that the market is being too conservative with near term earnings growth estimates. The broker suspects that JB Hi-Fi will outperform expectations and thus deserves a premium valuation. It explains:
We now include JB Hi-Fi in our preferred domestic panels. JBH consensus earnings forecasts for FY26 and FY27 look too conservative given the outlook of lower interest rates, real wage growth and tax cuts, with earnings growth of 4.3% and 3.9%, respectively.
We therefore expect earnings upgrades to provide further share price upside. JBH is currently trading at ~20x on a 12 month forward P/E, which we think is justified by the high-quality earnings base and when considering that the market is still conservative on the future earnings growth.
As for income, Bell Potter is forecasting a fully franked dividend yield of approximately 3.8% over the next 12 months.
Transurban Group (ASX: TCL)
Another ASX 200 dividend stock that is on the broker's Australian equities panel is Transurban.
It is a leading toll road operator that owns a portfolio of important roads across Australia and North America. You may have even driven on some its roads. They include CityLink in Melbourne, the Cross City Tunnel in Sydney, and AirportlinkM7 in Brisbane.
Bell Potter likes Transurban due to its belief that it is well-placed in the current environment due to its inflation-linked revenue stream. It also thinks its significant growth pipeline will be supportive of dividend growth in the future. The broker said:
We believe the current inflationary environment is favourable for Transurban given its inflation-linked revenue stream with annual escalators. Moreover, TCL provides low risk cash flows over the long term, with long concession duration (30+ years), and relative traffic/income resilience.
The group's current pipeline of growth projects is $3.3 billion (TCL's share of total project cost) and further huge development opportunities are expected over the next few decades, supported by population and economic growth.
Bell Potter is forecasting a dividend yield of approximately 5% over the next 12 months.
