If you're looking for a passive income boost from dividend shares, then you may want to look at the two listed below.
Here's why analysts at Morgans rates these ASX 200 dividend shares highly:
Santos Ltd (ASX: STO)
The first ASX 200 dividend share that could be a buy is Santos.
It is one of the region's largest energy producers and, thanks to its recent merger with Oil Search, the owner of a collection of high quality operations aiming to deliver production of 103-106 million barrels of oil equivalent (mmboe) this calendar year.
The team at Morgans is positive on the company due to its growth prospects and diversified earnings base. The broker commented:
The resilience of STO's growth profile and diversified earnings base see it well placed to outperform against a backdrop of a broader sector recovery. While pre-FEED, we see Dorado as likely to provide attractive growth for STO, while its recent acquisition increasing its stake in Darwin LNG has increased our confidence in Barossa's development.
In respect to dividends, Morgans is expecting dividends per share of 23 cents in FY 2022 and 24.4 cents in FY 2023. Based on the current Santos share price of $7.20, this will mean yields of 3.2% and 3.4%, respectively.
Morgans also sees plenty of upside for its shares. It has an add rating and $9.00 price target on them.
Wesfarmers Ltd (ASX: WES)
Another ASX 200 dividend share that could be at top option for income investors is this conglomerate.
Wesfarmers is the company behind a range of businesses such as Bunnings, Catch, Covalent Lithium, Kmart, Officeworks, and Priceline.
Morgans thinks Wesfarmers could be a good option in the current environment. In fact, its analysts are optimistic the company's retail operations will perform relatively positively due to its value offering. The broker thinks "Kmart is well-placed to benefit with the average price of an item at around $6-7."
As for dividends, the broker is forecasting fully franked dividends per share of $1.82 in FY 2023 and $1.89 in FY 2023. Based on the current Wesfarmers share price of $46.06, this will mean yields of 4% and 4.1%, respectively.
Morgans has an add rating and $55.60 price target on its shares.
