Next week the Reserve Bank of Australia will meet to make its October monetary policy decision.
According to data supplied by the ASX, there is currently zero chance of any change to rates being priced in by the market.
In fact, most economists believe that rates will stay on hold until at least the end of next year.
Which does of course mean that the low interest rates on offer from term deposits and savings accounts aren't likely to improve any time soon.
In light of this, I think investors should look to the share market for a source of income. After all, there are a good number of quality dividend shares providing generous dividends.
Here are three that I like:
Dicker Data Ltd (ASX: DDR)
Thanks to the seismic shift to the cloud and the company's new Enterprise Data business unit, I believe this founder-led wholesale computer hardware company is positioned perfectly for growth. In FY 2017 Dicker Data intends to pay its shareholders a fully franked 16.4 cents per share dividend in quarterly instalments. Based on its current share price, this works out to being a very generous annual yield of 6.4%.
Greencross Limited (ASX: GXL)
Due to a sizeable drop this year, this integrated pet care company's shares are changing hands at just 14x trailing earnings and provide investors with a trailing fully franked 3.5% dividend. While there are concerns over the retail side of the business, I believe that the in-store clinic strategy the company has undertaken will lead to notable improvements in its retail performance. This could make it a good time to consider picking up shares.
Telstra Corporation Ltd (ASX: TLS)
Whilst Telstra may not be the secure investment of yesteryear, I do believe that all the bad news has now been priced into its shares. This could arguably make it an opportune time to snap up shares in the telco giant. At the current share price investors should expect to receive a fully franked 6.3% dividend over the next 12 months.