Later today eligible shareholders of Commonwealth Bank of Australia (ASX: CBA) will receive a fully franked final dividend of $2.30 per share.
Shareholders that don't plan to use this dividend as a source of income may wish to reinvest it back into the market.
Here's where I would reinvest these funds:
Aristocrat Leisure Limited (ASX: ALL)
Investors that are interested in quality growth shares could do a lot worse than this fast-growing gaming technology company. Although its shares are changing hands at a premium to the market-average, I believe market share gains, higher levels of recurring revenue, and its fast-growing digital portfolio will lead to earnings growth that more than justifies its price tag. This could make it a great long-term buy and hold investment.
Suncorp Group Ltd (ASX: SUN)
Should Commonwealth Bank shareholders want even more dividends in the future then an investment in Suncorp could be a great option thanks to the early progress of its new operating model. Furthermore, I believe at the current share price it provides investors with a great mix of value and income. At present the insurance giant's shares change hands at under 16x earnings and provide investors with a trailing fully franked 5.5% dividend.
