9.5% and 7.9% yields! 2 FTSE 100 shares I want to buy for passive income

I think these cheap FTSE dividend stocks could help me make a market-beating second income. Here’s why I think they’re standout UK value shares.

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Like most people, I don’t have unlimited cash I can use to invest in UK shares. So right now I’m building a list of the top FTSE 100 dividend shares to buy when I have some spare money.

Here are two I plan to buy to turbocharge my passive income.

Glencore

Buying mining stocks can be risky business. Poor exploration results, mine development issues, and production-related problems can be common. Each of them can drive costs through the roof and destroy revenues forecasts.

This is why buying shares in a mega miner like Glencore (LSE:GLEN) can be a good idea for investors. Thanks to its huge operational footprint — the business owns more than 60 metal and energy-producing assets globally — the onset of problems at one of its sites has a limited bearing on overall group performance.

This isn’t the only reason I’m looking at Glencore shares, though. I also like the business because it produces and trades many commodities for which demand is tipped to soar.

Consumption of its copper, aluminium and cobalt, for example, should explode as sales of electric vehicles and investment in renewable energy like wind both take off.

If successful, the company’s planned takeover of Teck Resources will give it even better exposure to the green transition metals suite, too. The Canadian miner is a major producer of copper, lead and critical minor metals like cadmium.

Right now I think Glencore is one of the FTSE 100’s most attractive value shares. It trades on a forward price-to-earnings (P/E) ratio of 7.9 times. Meanwhile its dividend yield for 2023 sits at a gigantic 9.5%.

Aviva

Insurance giant Aviva (LSE:AV) is another blue-chip share offering stunning all-round value. And like Glencore, it’s a stock I’ll be looking to buy when I have spare cash to invest.

Today Aviva’s share price carries a bumper 7.9% dividend yield for this year. And its forward-looking P/E ratio comes in at just 7.7 times.

High claims inflation is a big problem for insurers like this right now. In fact Bill Brower, VP of industry relations at claims processor Solera, recently described rising motor-related costs as “kryptonite” to the industry in comments to Insurance Times.

Yet I believe Aviva shares still remain an attractive proposition. This is because its leading positions in the wealth management and retirement product industries help to offset troubles at its insurance division. In fact, Aviva is the UK market’s second-biggest player in the retirement services sector.

These markets look set for strong growth in the long term, too. Increasing worries over the State Pension are encouraging people to take greater control over retirement planning. Demand for private pensions and annuities is also steadily rising as the country’s elderly population rapidly expands.

With the business also investing heavily in digitalisation, I expect Aviva shares to deliver outstanding profits and dividend growth over the next decade.

Should you invest, the value of your investment may rise or fall and your capital is at risk. Before investing, your individual circumstances should be assessed. Consider taking independent financial advice.

Royston Wild has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

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