4 dividend shares I would buy this May

Thankfully for Australian investors, the local share market is home to a great number of quality dividend shares to invest in.

Four of my favourites at the moment are listed below. Here’s why I think they are worth considering this month:

Collins Foods Ltd (ASX: CKF)

Although the shares of this operator of KFC restaurants only provide a trailing fully franked 3% dividend, I believe it has significant growth ahead. As the company opens more and more restaurants in European markets, I expect its earnings growth to accelerate. This should allow the company to keep increasing its dividend.

Premier Investments Limited (ASX: PMV)

Like Collins Food, I believe Premier Investments is another company which has strong growth prospects thanks to its international expansion. Most notably through its Smiggle brand. This high-margin retail business has been growing like wildfire and shows no signs of slowing. At present Premier Investments provides a trailing 3.9% dividend.

Sigma Pharmaceutical Limited (ASX: SIP)

At present the company behind pharmacy chain brands including Chemist King and Amcal provides a trailing fully franked 4.4% dividend. I think this is a great dividend with plenty of room to grow in the next few years. Especially with the company’s online store in China growing ahead of expectations and management extending its share buy-back to a further 10% of shares on issue.

Suncorp Group Ltd (ASX: SUN)

At the current share price this leading insurer provides a generous trailing fully franked 5.1% dividend. I’ve been very impressed with the early success of its One Suncorp strategy and believe it has put the company in a strong position to grow earnings and its dividend at a solid rate over the next few years. Because of this I think it could prove to be a great buy and hold investment.

There is a fifth dividend share which I think is a buy today. It's huge yield and international expansion makes it one of the best on the market in my opinion.

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The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Premier Investments Limited. Motley Fool contributor James Mickleboro 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.

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