There are a good number of dividend-paying shares to choose from on the ASX 200 index. So many, it can be hard to decide which ones to buy.
But don't worry, because I have narrowed down things to three top ASX 200 dividend shares that brokers currently rate as buys. They are as follows:
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Super Retail Group Ltd (ASX: SUL)
The first ASX 200 dividend share that has been named as a buy is retailer Super Retail. It owns a collection of popular brands such as Macpac, Rebel, and Super Cheap Auto.
Goldman Sachs is positive on the retailer and has a buy rating and a $14.40 price target on its shares. It believes Super Retail "will display resilience in a softer economic environment that is built upon its competitive advantage of high loyalty."
The broker expects this to underpin forecasting fully franked dividends per share of 62 cents in FY 2024 and then 64 cents in FY 2025. Based on the latest Super Retail share price of $13.42, this will mean generous dividend yields of 4.6% and 4.75%, respectively.
Telstra Group Ltd (ASX: TLS)
Another ASX 200 dividend share that could be a buy is Australia's leading telecommunication company, Telstra.
Goldman Sachs is also positive on the company and has a buy rating and a $4.70 price target on its shares.
The broker is forecasting fully franked dividends of 18 cents per share in FY 2024 and then 20 cents per share in FY 2025. Based on the current Telstra share price of $3.96, this equates to fully franked yields of 4.5% and 5.1%, respectively.
Westpac Banking Corp (ASX: WBC)
A final ASX 200 dividend share that could be worth considering is Westpac. That's the view of analysts at Ord Minnett, which see significant value in its shares at the current level.
Last week, its analysts put an accumulate rating and $28 price target on its shares. This suggests a potential upside of 30%+ from current levels.
As for dividends, the broker has pencilled in fully franked dividends of $1.45 per share in FY 2024 and then $1.51 per share in FY 2025. Based on the current Westpac share price of $20.78, this will mean yields of 7% and 7.2%, respectively.
