Who else wants 3 high-yielding dividend shares?

This week the Reserve Bank of Australia (RBA) announced that it would keep the official cash rate steady at 1.75%

In a sense that’s good news for retirees who have chosen to keep their savings in a bank account – they wouldn’t want the interest rate to be any lower!

For many other retirees who have chosen to invest their savings and superannuation into equities in the hope of achieving better returns on their money, the interest rate decision is of little consequence.

While its undoubtedly a difficult time for self-managed super funds and investors generally, there is some solace in the fact that many ASX-listed shares continue to offer attractive fully franked dividends well above the cash rate.

Many consider Telstra Corporation Ltd (ASX: TLS) to effectively be the benchmark stock when it comes to dividend yield – its currently trading on a trailing yield of 5.5% – which is fair enough considering the apparent maintainability of its dividend.

There are however a number of lesser followed but still attractive dividend opportunities. Here are three…

Village Roadshow Ltd (ASX: VRL) is forecast to pay a dividend in financial year (FY) 2017 of 28.5 cents per share (cps) implying a fully franked dividend yield of 5.5%.

Bank of Queensland Limited (ASX: BOQ) VRL) is forecast to pay a dividend in FY 2017 of 76.5 cps, implying a fully franked dividend yield of 7%.

Medibank Private Ltd (ASX: MPL) is still in the process of ramping up its dividend after many years as a government-owned entity. While the yield based on the pay out in FY 2017 might not appear that exciting, if investors take a longer term view and consider the forecast for FY 2018 of 14 cps then Medibank’s expected yield is 4.4%.

If you are interested in quality dividend shares, then I would recommend this top dividend share instead. A strong yield and potential share price gains make this a great investment idea in my opinion.

Our Top Dividend Stock for 2016

Our resident dividend expert names his Top Dividend Share for 2016. Not only are the shares dirt cheap, the company is trading on a fat fully franked dividend yield. Simply click here to gain access to this comprehensive FREE investment report, including the name of this fast growing ASX dividend share. No credit card required!

Motley Fool contributor Tim McArthur has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.