If you're looking to boost your income portfolio with some dividend shares, then the two listed below could be worth considering.
Here's why these ASX 200 dividend shares could be in the buy zone right now:
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BHP Group Ltd (ASX: BHP)
The first ASX 200 dividend share to look at is BHP. With commodity prices at favourable levels and tipped to remain this way for some time, the Big Australian is generating significant free cash flow. This is providing the mining giant with the opportunity to reward shareholders with big dividends and consider M&A activities.
Although the BHP share price has rallied strongly recently, the team at Macquarie still see scope for it to keep rising. Last week the broker retained its outperform rating and $54.00 price target.
As for dividends, Macquarie is forecasting fully franked dividends per share of ~$4.20 in FY 2022 and then ~$2.54 in FY 2023. Based on the current BHP share price of $48.24, this implies potential yields of 8.7% and 5.3%, respectively.
National Australia Bank Ltd (ASX: NAB)
Another ASX 200 dividend share that could be in the buy zone is NAB.
Thanks to its very positive performance so far in FY 2022 (12% increase in Q1 cash earnings), NAB's shares have been strong performers this year.
The good news is that the team at Bell Potter still see value in its shares at the current level. The broker was impressed with its first quarter performance and put a buy rating and $32.50 price target on the bank's shares.
In addition, it has pencilled in dividends per share of 132.5 cents in FY 2022 and then 134.5 cents in FY 2023. Based on the current NAB share price of $30.75, this equates to fully franked yields of 4.3% and 4.4%, respectively.
