3 high yield dividend shares for retirees

With an average dividend yield of approximately 4%, the Australian share market is one of the most generous markets in the world.

But with so many top dividend shares to choose from it can be hard to decide which ones to buy.

Here are three high yield dividend shares that I think retirees ought to consider today:

Dicker Data Ltd (ASX: DDR)

As well as offering investors a forward fully franked 6.2% yield, this software and hardware wholesale distributor pays its dividend out in quarterly instalments. This could make it a great option for investors that are in search of more regular income streams. Another reason I like Dicker Data is that it is a founder-led business and its directors have plenty of skin in the game. This should mean that their interests are aligned with shareholders.

National Storage REIT (ASX: NSR)

With the Australian population on the rise and many baby boomers downsizing, demand for storage services has been growing strongly. Management appears to believe that this demand will continue to increase and intends to meet it through its pipeline of 11 new developments and several expansions projects. This year the company plans to pay a distribution of between 9.6 cents and 10 cents per share in FY 2018, which equates to a forward yield of approximately 6.1%.

Telstra Corporation Ltd (ASX: TLS)

While Telstra is no longer the low risk investment option it was a decade ago, I do think that the selloff that has ensued over the last 12 months means that an investment in its shares offers a compelling risk/reward now. I remain confident that its 22 cents per share dividend is secure for at least the next two years, after which numerous factors will dictate whether it is held, cut, or even increased. Based on its last close price, Telstra’s shares offer a fully franked 6.7% dividend.

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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 and Telstra Limited. The Motley Fool Australia has recommended National Storage REIT. 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 Scott Phillips.

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