On Friday eligible Westpac Banking Corp (ASX: WBC) shareholders will receive a fully franked 94 cents per share final dividend in their accounts.
While some investors will use this as a source of income, others may wish to reinvest it in the market.
Here are two quality options I would consider reinvesting this dividend into:
A2 Milk Company Ltd (ASX: A2M)
I think Westpac shareholders that are interested in growth shares should take a look at this fast-growing dairy company. Although its shares have gone gangbusters this year, I still believe there is a lot more to come over the next few years thanks to the insatiable demand for its infant formula in China.
Especially when you consider that its infant formula consumption value share in China stands at just 3.5%. I expect that new regulations and its strong product offering will lead to increased market share in 2018.
Dicker Data Ltd (ASX: DDR)
Investors in search of more income might want to consider this leading wholesale distributor of computer hardware and software. Thanks to its market-leading position and strong growth from the cloud channel, I believe Dicker Data is in a solid position to continue growing its earnings and dividend at a quick rate for the next few years at least.
At present it provides investors with a trailing fully franked 5.5% dividend which it pays in quarterly instalments. This could make it a great option for investors that are looking for more regular sources of income.
