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3 top notch high yield ASX shares to buy now

I think it is fair to say that the Australian share market is home to a great number of quality dividend shares. But with so many to choose from it can be hard to decide which to buy.

To help you on your way I have picked out three high-yield dividend shares which I think could be in the buy zone today. Here’s why I like them:

Dicker Data Ltd (ASX: DDR)

Dicker Data is a founder-led wholesale computer hardware company with the wind in its sails. In FY 2016 the company delivered net profit after tax growth of 25% thanks to new vendor agreements and favourable market trends. Cloud, digital transformation, and the Internet of Things have continued to present new market opportunities and revenue streams for the company. This year management plans to pay a fully franked 16.4 cents per share dividend, which is the equivalent of a 7% yield at today’s share price.

Suncorp Group Ltd (ASX: SUN)

Although this leading insurer’s shares have rallied strongly in the last six months and are close to a two-year high, they still provide a market-beating trailing fully franked 5% dividend. I believe this yield and the successful implementation of its One Suncorp strategy could make the company a great buy and hold investment option. I have been impressed with the early progress of the strategy and its impact on its insurance trading ratio, and expect it to lead to further improvements in the company’s performance later this year.

Telstra Corporation Ltd (ASX: TLS)

The shares of this telco giant provide a trailing fully franked 6.9% dividend. This is not only well above the market average, but is even better than most of Australia’s leading banks. While competitive pressures could weigh on its shares in the short-term, I expect cost-savings and its market-leading position will allow the company to excel in the long-term. With its shares down 19% in the last 12 months, I think now could be an opportune time to snap it up.

But this fourth dividend share could be the pick of the lot. Its strong international growth prospects and growing yield make it a standout in my opinion.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Telstra Limited. 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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