Buy these ASX 200 shares for growing dividends

Analysts believe that these ASX shares are buys.

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Looking for ASX 200 shares to buy? If you are, then you could check out the two listed below that are forecast to grow their dividends in the future.

Here's what brokers are saying about these shares:

Mineral Resources Ltd (ASX: MIN)

The first ASX 200 share to look at buying is Mineral Resources. It is a mining and mining services company with exposure to energy, iron ore, and lithium.

Morgans believes the company is well-placed for growth even if commodity prices soften. This is due to the "magnitude of organic growth in the pipeline." The broker also highlights that its "diversification leaves it far more capable of tolerating volatility in lithium markets than its peers in the sector."

In addition, its analysts are forecasting fully franked dividends per share of $1.81 in FY 2023 and then $2.30 in FY 2024. This will mean yields of 2.6% and 3.3%, respectively.

Morgans currently has an add rating and $93.00 price target on its shares.

Transurban Group (ASX: TCL)

Another top ASX 200 share that could be a buy is Transurban.

It is one of the world's leading toll road operators with a collection of important roads across several locations.

Among its portfolio of roads are the likes of CityLink in Melbourne, the Cross City Tunnel in Sydney, and AirportlinkM7 in Brisbane.

After a quiet period during the pandemic, traffic is now booming on its roads again. In fact, the company recently revealed that it achieved record volumes during the first half of FY 2023.

This could be good news for the future given its inflation-linked price increases.

In respect to dividends, the team at UBS is forecasting dividends per share of 57 cents in FY 2023 and then 61 cents in FY 2024. Based on the current Transurban share price of $14.24, this will mean yields of 4% and 4.3%, respectively.

UBS has a buy rating and $15.45 price target on its shares.

Motley Fool contributor James Mickleboro 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 no position in any of the stocks mentioned. 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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