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Beat low rates with these 3 dividend stars

As many readers will be more than aware, the general consensus is that Reserve Bank is unlikely to be in a position to raise rates until next year at the earliest.

And even when it does start to raise rates, I suspect it will be a long time until rates hit the lofty levels of a decade ago.

While this is great news for borrowers, it certainly isn’t for savers. But the good news is that the Australian share market has got your back.

Here are three top dividend shares that could be worth buying today:

Aventus Retail Property Fund (ASX: AVN)

Aventus is a retail property group which has a portfolio of retail parks with high quality long-term tenants such as Domayne, Harvey Norman Holdings Limited (ASX: HVN), and Nick Scali Limited (ASX: NCK). At present, based on its distribution policy and full-year funds from operations guidance, I estimate that its shares provide a monstrous full-year 7.4% yield.

Super Retail Group Ltd (ASX: SUL)

I think this retail conglomerate could be a good option for investors after its sizeable share price decline over the last 12 months. This decline has not only left its shares trading at a lowly 11x trailing earnings, but also means its shares offer a trailing fully franked 6% dividend now. While there is a touch of uncertainty over the poor performance of its Leisure segment and management’s decision to add to it through the acquisition of Macpac, I’m willing to give them the benefit of the doubt on this one.

Westpac Banking Corp (ASX: WBC)

Investors that don’t already have exposure to the banks might want to consider snapping up Westpac’s shares. I thought its recent half-year result was the best in the sector and believe it is well positioned to build on it in the second-half. So with its shares trading on multiples well below their historic averages and providing a trailing fully franked 6.3% dividend, now could be an opportune time to pick them up.

But if you already have exposure to the banks then this top dividend share could a great alternative. After all, it is expected to increase its dividend significantly this year.

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Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of Super Retail Group Limited. The Motley Fool Australia has recommended AVENTUS RE UNIT. 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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