When it comes to investing for income, often one of the first shares that investors will think of is telecommunications giant Telstra Corporation Ltd (ASX: TLS).

Telstra has deservedly earned this reputation by being a reliable dividend payer for well over a decade. Usually paying out around 90% of its earnings to shareholders, its dividend continues to be one of the most attractive on the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO), with an above-average yield.

Right now Telstra is expected to pay a fully franked dividend of 5.8% in FY 2016. Whist this is a fantastic dividend, there are potentially even better dividends out there for investors to consider.

Three high-yield dividend shares that I think are worth a closer look at today are as follows:

Automotive Group Holdings Ltd (ASX: AHG)

Australia’s largest car dealer increased its profit by 7% in the first half of its current financial year thanks in part to a booming car market which saw record new car sales. If there is a slow down in the car market its earnings growth could slow, but so far this year things look positive. Last week data was released which showed that Australian new vehicle sales were up 4.2% year over year in March. Automotive Group Holdings is expected to pay a fully franked dividend of 6% in FY 2016

Bendigo and Adelaide Bank Ltd (ASX: BEN)

The shares of Bendigo and Adelaide Bank have declined by over 22% so far this year, leaving the shares trading at a great price for investors searching for income. In FY 2016 the shares are estimated to pay a fully franked dividend of 7.3%. There could also be significant upside for its share price if and when the bank is granted its advanced accreditation from APRA. This would allow it to lend far more on the same level of capital it holds at the moment.

Fantastic Holdings Limited (ASX: FAN)

Fantastic Holdings is the company behind furniture retail brands Fantastic Furniture, Plush, and Dare Gallery. Thanks to the housing market boom there has been strong demand for furniture, leading the company to post record sales in the last fiscal year. I believe sales records could again be broken this year, which should allow the company to continue to grow its dividend by the 8% per annum average it has achieved in the last five years. Fantastic Holdings is expected to pay a fully franked dividend of 6.6% in FY 2016.

I believe these are all great alternatives to the usual dividend suspects and worthy of further investigation. If you’re looking for more ideas then income investors need look no further than this fully franked high-yield share. It is definitely worth considering in my opinion.

NEW: The Motley Fool's Top Fully Franked Dividend Share For 2016

Forget BHP and Woolworths. This "dirt cheap" company. is growing like gangbusters, and trading on a 5.6% dividend yield, FULLY FRANKED (8% gross). With interest rates set to stay at these low levels for years to come, for income-hungry investors, including SMSFs, this ASX company could be the "Holy Grail" of dividend plays for 2016. Click here to gain access to this comprehensive FREE investment report, including the name of this fast growing ASX dividend share. No credit card required.

HOT OFF THE PRESSES: Motley Fool’s #1 Dividend Pick for 2017!

With its shares up 155% in just the last five years, this ‘under the radar’ consumer favourite is both a hot growth stock AND our expert’s #1 dividend pick for 2017. Now we’re pulling back the curtain for you... And all you have to do to discover the name, code and a full analysis is enter your email below!

Simply enter your email now to receive your copy of our brand-new FREE report, “The Motley Fool’s Top Dividend Stock for 2017.”

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our https://www.fool.com.au/financial-services-guide">Financial Services Guide (FSG) for more information.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.