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3 dividend shares I would buy today

Next week the Reserve Bank will meet for the first time in 2018 to decide whether to make any changes to interest rates.

Very few economists expect any changes to be made for some time to come, which is likely to mean interest rates will stay at the record low for much of this year.

In light of this, I would suggest that investors consider skipping savings accounts and look to the share market for a source of income.

Three dividend shares I would consider buying today are listed below:

Accent Group Ltd (ASX: AX1)

This footwear retailer’s shares are currently changing hands at just 13x estimated forward earnings. I think this is cheap even if profit growth is expected to be flat this year. In addition to looking cheap, its shares also provide investors with one of the more generous yields on the market. As of yesterday’s close, its shares provided a trailing fully franked 6.6% dividend.

Dicker Data Ltd (ASX: DDR)

I think that this wholesale distributor of computer hardware and software could be a great option for income investors. Not only does it provide investors with a generous trailing fully franked 5.5% dividend, it is paid to shareholders in quarterly instalments. This makes it a great source of income in my opinion. Furthermore, thanks to the addition of new vendors and strong demand from the cloud market, I expect Dicker Data to be in a position to increase its dividend in FY 2018.

Super Retail Group Ltd (ASX: SUL)

Amazon is here but so far its impact on Australian retailers appears to be minimal. Whilst this may change in the future, I believe Super Retail is well prepared for the retail behemoth. In light of this, I remain confident that the retailer behind brands such as Super Cheap Auto and Rebel Sport is positioned to continue its growth in FY 2018 and beyond. At present Super Retail’s shares provide a trailing fully franked 5.3% dividend.

Finally, here's a fourth dividend share that I think is in the buy zone today.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Dicker Data Limited. The Motley Fool Australia owns shares of Super Retail Group 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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