While I think that the Commonwealth Bank of Australia (ASX: CBA) dividend is a good option for income investors after its recent share price decline, a lot of investors will already have meaningful exposure to the banks.
So in order to maintain a diversified portfolio, investors might want to consider one of these dividend shares instead.
Here's why I like them:
Accent Group Ltd (ASX: AX1)
Although this footwear retailer's shares are trading close to a 52-week high after its strong half-year result last month, they still provide investors with an above-average dividend yield. Based on the last close price, Accent's shares offer a trailing fully franked 4.6% dividend. I think this is a great yield and believe it can grow significantly in the future if the company's Athlete's Foot and HYPE brands continue their strong form.
Dicker Data Ltd (ASX: DDR)
According to a market update released last month, this wholesale distributor of computer software and hardware expects to deliver a 6% increase in earnings in FY 2018. Whilst this growth isn't by any means explosive, it would have been stronger had its New Zealand business not been negatively impacted by the loss of its Cisco contract. Pleasingly, despite the slower earnings growth, management intends to increase its dividend by 10% this year to 18 cents per share. This equates to a forward fully franked 6.2% yield.
Japara Healthcare Ltd (ASX: JHC)
One company that I think stands to benefit greatly from Australia's ageing population is this leading aged care operator. I think the tailwinds it is experiencing, its strong management team, quality portfolio, and sizeable expansion plans could put it in a position to deliver solid earnings and dividend growth over the long term. At present Japara's shares provide investors with an annualised partially franked 4.1% dividend.
