These dividend shares are great options for retirees

On Tuesday the Reserve Bank of Australia will meet once again and is widely expected to keep rates on hold for yet another month.

This is likely to be the case for many months to come as well. In fact, a recent Westpac Banking Corp (ASX: WBC) weekly economic report revealed that its analysts expect rates to remain on hold at the record low of 1.5% until at least December 2019.

While this is great news for borrowers, it certainly isn’t for savers or retirees that aim to live off the interest generated from savings accounts or term deposits.

The good news is that the Australian share market is here to save the day with a plethora of dividend shares offering generous dividend yields.

Two which I think would be great for retirees are listed below. Here’s why:

National Storage REIT (ASX: NSR)

This storage giant’s shares could be a great option for retirees thanks to its generous yield and solid growth outlook. Due to the expansion of its store network, the redevelopment of existing site, and the growing demand for storage facilities, I believe National Storage can grow earnings and its dividend at a solid rate for at least the next few years. Its shares currently offer a trailing yield of approximately 5.8%.

Rural Funds Group (ASX: RFF)

Rural Funds is a real estate investment trust with a focus on agricultural assets. The diverse farming assets in its portfolio include cotton, cattle, poultry, grape, macadamia, and almond production, and have tenancy agreements long into the future. At the last count its tenancy agreements had an average of 12.5 years left to run and had rental indexation built in. I believe this provides a lot of visibility on its future cash flows and ability to grow its dividend in the future. At present its shares provides a trailing yield of 4.9%.

OUR #1 dividend pick for FY 2019 is revealed for FREE here!

Financial year 2018 is here and The Motley Fool’s dividend detective Andrew Page has revealed his must buy dividend share to grow your wealth in 2018.

You might not know this market leader's name, but it's rapidly expanding into a highly profitable niche market here in Australia. Even better, the shares boast a strong, fully franked dividend that should balloon in the years to come. In other words, we're looking at the holy grail of incredible long-term growth potential AND income you can watch accruing in your account in real time!

Simply click here to grab your FREE copy of this up-to-the-minute research report on our #1 dividend share recommendation now.

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of and has recommended RURALFUNDS STAPLED. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.