The good news for income investors is that there are a lot of options to choose from on the Australian share market.
In fact, it is one of the most generous share markets in the world with countless ASX dividend shares trading on its bourse.
To narrow things down, let's take a look at a couple of ASX 200 dividend shares that analysts are feeling bullish on right now. Here's what they are saying about them:
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APA Group (ASX: APA)
The team at Macquarie sees APA Group as an ASX 200 dividend share to buy right now. It is a leading Australian energy infrastructure company with a $27 billion portfolio spanning gas, electricity, solar, and wind assets.
It delivers around half of the nation's domestic gas through 15,000 kilometres of gas pipelines that it owns, operates and maintains. In addition, it notes that through its investments in electricity transmission assets, it connects Victoria with South Australia, Tasmania with Victoria, and New South Wales with Queensland, providing vital flexibility and support for the grid.
Macquarie was pleased with its half year results earlier this week and responded by retaining its outperform rating with an improved price target of $8.14. This suggests that further upside of almost 6% is possible for investors buying at current levels.
As for dividends, the broker is forecasting dividends per share of 57 cents per share in FY 2025 and then 58 cents per share in FY 2026. At the current APA Group share price of $7.70, this implies generous dividend yields of 7.4% and 7.5%, respectively.
Harvey Norman Holdings Limited (ASX: HVN)
Another ASX 200 dividend share that could be a great option for income investors this week is retail giant Harvey Norman.
That's the view of the team at Bell Potter, which are feeling very positive about the company and its outlook. This is due to the broker's belief that Harvey Norman stands to benefit greatly from an artificial intelligence driven major upgrade/replacement cycle of devices purchased during the COVID-19 pandemic.
Bell Potter currently has a buy rating and $5.80 price target on its shares. This implies potential upside of almost 17% for investors over the next 12 months.
In respect to income, the broker is forecasting fully franked dividends of 25.9 cents per share in FY 2025 and then 28.5 cents per share in FY 2026. Based on the current Harvey Norman share price of $4.97, this equates to attractive dividend yields of 5.2% and 5.75%, respectively.
