With the cash rate at a record low and unlikely to be lifted in the near term, I think savers and income investors ought to consider putting their money to work in the share market.
Three top dividend shares that I think investors ought to take a closer look at are listed below. Here's why I like them:
Australia and New Zealand Banking Group (ASX: ANZ)
Although the big four banks have rallied strongly since Christmas Eve, I don't believe for a second that it is too late to invest. Even after ANZ's solid gain over this period, its shares are still trading on lower than normal multiples and offer a generous dividend. Pleasingly, I believe the company is well-positioned to at least maintain its dividend this year due to its exposure to business lending which has been tipped to outperform home lending for the first time since 2011. At present ANZ Bank's shares provide income investors with a trailing fully franked 6.2% yield.
BHP Group Ltd (ASX: BHP)
I think that BHP could be a great option for income investors that are looking for exposure to the resources sector. Although it is too late to qualify for its special dividend, its shares still provide an above-average fully franked 4.8% yield on a trailing basis even when excluding it. The good news is that I believe the mining giant is well-positioned to increase its dividend in FY 2019 thanks to the high levels of free cash flow that its world class operations generate and its strong balance sheet.
National Storage REIT (ASX: NSR)
Another top option for income options could be National Storage. It is one of Australia and New Zealand's leading self-storage providers and currently provides investors with a trailing 5.3% distribution yield. It caught my eye in FY 2018 with the release of another solid full year result driven by further increases in its revenue per available square metre metric. I expect another strong performance in FY 2019, especially after a recent equity raising left it with a hefty cash balance to fund its growth through acquisition strategy.
