3 high-yielding alternatives to the Westpac Banking Corp dividend

Instead of the Westpac Banking Corp (ASX:WBC) dividend, income investors could try these three dividend shares…

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While I continue to believe that Westpac Banking Corp (ASX: WBC) is a great option for income investors, a lot of investors' portfolios may already be overweight with the banks.

If this sounds like your portfolio then perhaps the high-yielding dividend alternatives listed below might be better options for you. They are as follows:

Mantra Group Ltd (ASX: MTR)

Although this leading accommodation provider's shares have stormed higher today after announcing plans to acquire the Art Series hotel chain for $52.5 million, they still provide investors with a solid trailing fully franked 3.7% dividend. I believe this dividend has significant long-term growth potential thanks largely to the tourism boom that Australia is experiencing. I expect strong demand for hotel rooms will result in above-average earnings growth for Mantra over the next decade.

Super Retail Group Ltd (ASX: SUL)

The shares of the company behind well-known retail brands such as Supercheap Auto and Rebel Sport are changing hands at just 13x trailing earnings and provide a generous trailing fully franked 5% dividend. I believe this makes them great value for money and provides investors with a compelling risk/reward. While Amazon does pose a threat to its business, I do believe the company is better placed than its peers to fight back.

WAM Capital Limited (ASX: WAM)

Due to the strong performance of WAM's funds, this listed investment company has been in a position to increase its dividend for an impressive seven consecutive years. Judging by its performance so far this year, I wouldn't be at all surprised to see the company make it eight years in a row. So with its shares already providing a trailing fully franked 6.1% dividend, now could be an opportune time to invest.

Motley Fool contributor James Mickleboro owns shares of Westpac Banking Corp. The Motley Fool Australia owns shares of Super Retail Group Limited. 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.

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