With the Reserve Bank of Australia likely to take the cash rate lower later this year, 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)
Although trading conditions in the banking sector are tough due to the housing market downturn, I remain confident that this weakness is only temporary and expect things to improve over the medium term. This could make it an opportune time to make a patient investment in ANZ's shares today. Especially for investors in search of dividends. Right now ANZ's shares offer a trailing fully franked 6.1% dividend. Due to the company's strong capital position, I believe this dividend is very secure and could even be complemented with further capital management initiatives.
Super Retail Group Ltd (ASX: SUL)
I think the company behind retail brands such as Macpac, Rebel, and Super Cheap Auto is well worth considering right now. Although the retail sector is facing tough trading conditions, Super Retail has continued to deliver solid sales and profit growth in FY 2019, which I believe puts Super Retail in a position to increase its dividend this year. Not that its shares don't already offer a generous yield. Based on its last close price, Super Retail's shares provide a trailing fully franked 6% dividend.
Sydney Airport Holdings Pty Ltd (ASX: SYD)
Another dividend share to consider is the operator of Australia's busiest airport. I think Sydney Airport is well-positioned for solid long term earnings and dividend growth due to its position as the main gateway into Australia and the tourism boom the country continues to experience. At present Sydney Airport's shares offer a trailing 5.1% dividend yield.
