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3 cheap dividend shares to buy today

One positive take on yesterday’s market meltdown is that it has made a number of quality dividend shares cheaper.

Three which I think are attractive after yesterday’s decline are listed below. Here’s why I like them:

BHP Billiton Limited (ASX: BHP)

This mining giant’s shares fell almost 3% on Tuesday, meaning they now provide investors with a trailing fully franked 3.6% dividend. However, considering the strength of the global economy and demand for commodities, I believe BHP Billiton will be in a position to increase its dividend meaningfully in FY 2018. In light of this, I think the diversified miner could be one of the best options in the share market right now.

Greencross Limited (ASX: GXL)

This integrated pet care company tumbled over 5% lower yesterday during the market sell-off. This means Greencross’ shares are now changing hands at a little over 16x trailing earnings and provide a trailing 3.2% dividend. I think this makes Greencross very appealing given the early success it has had with its in-store clinic roll out. In-store clinics are currently found in 17% of its retail stores, but management is targeting over 60% in the future. I believe this could help the company grow its bottom line at a solid rate over the coming years.

Telstra Corporation Ltd (ASX: TLS)

Not even this telco giant could escape the market meltdown on Tuesday. Telstra’s shares finished the day down over 3% to $3.51. Based on its proposed 22 cents per share dividend in FY 2018, Telstra’s shares will provide a fully franked 6.3% yield over the next 12 months. This smashes anything on offer from term deposits and savings accounts. Furthermore, I remain confident that the company is in a position to maintain this dividend in FY 2019 as well. I think this makes it well worth considering today.

This fourth dividend share could be a great option as well after yesterday's market meltdown.

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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 Greencross Limited and Telstra 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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