3 cheap dividend shares to buy today

With the market sinking lower once again on Friday following heavy declines in the U.S. overnight, a number of shares just got a whole lot cheaper.

Three dividend shares which I think are especially attractive after recent declines are listed below. Here’s why I think they are worth snapping up today:

Accent Group Ltd (ASX: AX1)

Accent Group, previously known as RCG Corporation, is down 4% today. This stretches the footwear retailer’s 12-month decline to approximately 36% and is the result of weak retail conditions and concerns over Amazon’s arrival in Australia. Although I do think Amazon could be a threat in the future, I believe the strength of its licensed brands should offer it some protection from the ecommerce giant. At present Accent’s shares provide a trailing fully franked 7% dividend. Though, it is worth noting that its half-year results will be released in the near future. It may be prudent to wait for them before hitting the buy button.

National Australia Bank Ltd (ASX: NAB)

Yesterday the banking giant released its quarterly update which revealed that December’s quarterly cash earnings improved 3% over the prior corresponding period to $1.65 billion following a 1% increase in quarterly revenue. With its shares now trading just a fraction above their 52-week low, I think it could be an opportune time to snap up the bank’s shares. National Australia Bank’s shares currently provide a trailing fully franked 6.9% dividend.

Telstra Corporation Ltd (ASX: TLS)

This telco giant’s shares haven’t been able to escape today’s market meltdown and have fallen almost 2% to $3.50. With Telstra planning to pay a 22 cents per share dividend in FY 2018, this means its shares provide investors with a forward fully franked 6.3% yield. I think this is a great option for income investors, especially with one leading broker tipping its dividend to increase in FY 2019. I would suggest investors snap up its shares ahead of its telco rivals.

This fourth dividend share is another which I think has fallen to a bargain price now.

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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 Telstra Limited. The Motley Fool Australia owns shares of National Australia Bank 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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