Next week the Reserve Bank of Australia will meet to decide on the cash rate.
Whilst the central bank is expected to hold firm with rates at this meeting, many leading economists and analysts are tipping it to reduce the cash rate in the months that follow.
I believe this is a sign that investors ought to expect this low interest rate environment to persist for many years to come and consider the many quality dividend options on the share market for their income needs.
Three to consider this week are listed below:
Aventus Retail Property Fund (ASX: AVN)
I think that Aventus would be a great option for income investors. It is Australia's largest fully-integrated owner, manager, and developer of large format retail centres with a portfolio of 20 centres. It has a diverse tenant base of 577 quality tenancies, including some of the biggest retailers in the country. Thanks to high occupancy levels and an increase in like for like net property income, last month Aventus posted a 6.3% increase in half year funds from operations to $47 million. This strong form has allowed the company to increase its distribution this year, meaning its units currently offer a trailing 7.3% distribution yield.
Super Retail Group Ltd (ASX: SUL)
One of Aventus' tenants is Super Retail Group, which I think is another quality option for income investors. In the first half of FY 2019 the retailer posted an 8.9% in net profit after tax thanks to solid like for like sales growth. The good news is that management revealed that the company has had a strong start to the second half, positioning it well to deliver a solid full year result. I think this makes its shares a bargain buy considering they are changing hands at under 11x estimated full year earnings and offer investors a trailing fully franked 6.6% dividend.
Westpac Banking Corp (ASX: WBC)
I think that this banking giant would be a good option for investors that have little exposure to the banking sector. Especially after it announced the reset of its wealth strategy. This includes realigning its major BT Financial Group businesses into the Consumer and Business divisions and exiting the provision of personal financial advice. One broker that appears happy with this decision is Citi. Last week it retained its buy rating and $30.00 price target on the bank's shares. It expects Westpac to pay a $1.88 per share dividend this year, equating to a fully franked 7.1% dividend.
