There are plenty of ASX 200 dividend shares to choose from on the Australian share market.
To narrow things down, I have picked out two that have been named as buys by brokers recently. Here's what they are saying about them:
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Harvey Norman Holdings Limited (ASX: HVN)
The first ASX 200 dividend share to consider buying is retail giant Harvey Norman.
Its shares have been hammered recently amid concerns over the impact of the cost of living crisis and housing market weakness on its sales.
One broker that believes the selling has been overdone is Goldman Sachs. In fact, the broker highlights that its shares look dirt cheap in comparison to rival JB Hi-Fi Limited (ASX: JBH) when you adjust for its property portfolio. It explained:
[P]roperty valuation of A$3.3 (avg. of book value and 6.0% cap-rate) represents ~70% of market cap. Ex-prop HVN trades at 6.0x FY24 P/E vs JBH at 14.5x, which faces similar consumer softening risk.
Goldman currently has a buy rating and $4.70 price target on the retailer's shares.
As for dividends, the broker is expecting fully franked dividends per share of 36 cents in FY 2023 and then 30 cents in FY 2024. Based on the current Harvey Norman share price of $3.77, this will mean yields of 9.5% and 8%, respectively.
Macquarie Group Ltd (ASX: MQG)
Another ASX 200 dividend share that could be a buy next week is investment bank Macquarie.
Morgans is a fan of the company and believes it is well-placed to benefit from market volatility. It also sees structural growth opportunities for the bank. It commented:
We continue to like MQG's exposure to long-term structural growth areas such as infrastructure and renewables. The company also stands to benefit from recent market volatility through its trading businesses, while it continues to gain market share in Australian mortgages.
The broker has an add rating and $222.80 price target on the company's shares.
In respect to dividends, Morgans is expecting partially franked dividends of $8.28 per share in FY 2023 and $7.64 per share in FY 2024. Based on the current Macquarie share price of $175.79, this will mean yields of 4.7% and 4.35%, respectively.
