3 beaten-up shares with monster 6% dividends

Telstra Corporation Ltd (ASX:TLS), Retail Food Group Limited (ASX:RFG), and National Australia Bank Ltd. (ASX:NAB) pay more than 6% in dividends today.

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Despite interest rates still stuck at record lows, investors have been shying away from some of the S&P/ASX 200's (INDEXASX: ^AXJO) (ASX: XJO) juiciest dividend-paying shares.

Here are 3 that could be worth closer consideration:

Telstra Corporation Ltd (ASX: TLS) – yields 7.6% fully franked

Telstra Corporation shares have fallen to levels not seen since late 2012 over fears regarding its dividend and increasing competition from the likes of TPG Telecom Ltd (ASX: TPM) entering the mobile space. At least one broker thinks that Telstra's dividend could be cut by 45% in the next few years.

Retail Food Group Limited (ASX: RFG) – yields 6.5% fully franked

Retail Food Group is one of the most aggressively short-sold companies on the ASX, with around 12% of its shares held for short sale. Fellow franchisor Domino's Pizza Enterprises Ltd. (ASX: DMP) is also heavily short-sold, with the franchise model apparently coming under increasing scepticism from the sellers.

National Australia Bank Ltd. (ASX: NAB) – yields 6.5% fully franked

The seemingly forgotten 4th bank of the Big Four, NAB appeared to be one of the least risky in my recent look at the property lending market. It carries among the lowest percentage of interest only loans among the Big 4 banks, which is a big positive if you're concerned about the Australian housing market.

However, just because NAB appears more attractive relative to the other banks, doesn't mean that you should buy it.

Motley Fool contributor Sean O'Neill owns shares of Retail Food Group Limited. The Motley Fool Australia owns shares of National Australia Bank Limited, Retail Food Group Limited, Telstra Limited, and TPG Telecom 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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