With the Reserve Bank of Australia almost certainly going to keep rates on hold today and most likely for the rest of 2019 and much of 2020, I think it is a great time to look at some of the quality income options on the Australian share market.
Three top dividend shares that I would buy today are listed below. Here's why I like them:
Australia and New Zealand Banking Group (ASX: ANZ)
With the Royal Commission final report now released and no nasty surprises included within it, I think it could be time to buy the banks again. My top pick in the banking sector is ANZ due to its exposure to a business lending market that is performing well. I believe this exposure has put the bank in a great position to at least maintain its $1.60 per share dividend in FY 2019. If it does, it will provide a fully franked 6.3% yield.
Dicker Data Ltd (ASX: DDR)
One of my favourite dividend shares on the local market would have to be this founder-led computer hardware and software distributor. Dicker Data has been a consistently strong performer for a number of years, allowing its board to increase its dividend at a solid rate. This continued to be the case in FY 2018, with management providing its unaudited full year results last week and revealing a 15% increase in profit before tax. At present Dicker Data's shares offer a fully franked 5.8% yield.
Super Retail Group Ltd (ASX: SUL)
Another good option for income investors right now could be Super Retail. Due to its current valuation and generous trailing fully franked 6.6% dividend, I believe the shares of the retail group behind popular store brands such as Super Cheap Auto, Rebel, and Macpac offer investors a compelling risk reward.
