3 top shares for income investors

Unfortunately for income investors, the low interest environment we are living in doesn’t look likely to be ending any time soon.

Luckily the Australian share market has come to the rescue with a plethora of dividend shares that offer yields of 5% and above.

Three that I think are great options for income investors are listed below:

Aventus Retail Property Fund (ASX: AVN)

This retail property group owns 20 retail parks across Australia and counts many of the country’s biggest retailers such as Bunnings, The Good Guys, and Officeworks as tenants. While the retail sector is a tough place to be right now, I believe the blue-chip nature of many of its tenants means that Aventus is less likely to suffer from store closures or defaults on rent payments. Overall, I feel confident that it has a positive outlook over the next couple of years and the ability to grow its distribution. Its shares currently provide a trailing 7.2% distribution yield.

WAM Capital Limited (ASX: WAM)

Wilson Asset Management’s WAM Capital provides investors with exposure to an actively managed diversified portfolio of undervalued growth companies listed on the ASX. Its funds have been impressively strong performers over the last few years and this doesn’t look likely to change in FY 2018. As a result, I expect the listed investment company to be in a position to raise its dividend for a ninth year in a row. WAM Capital’s shares currently offer income investors a trailing fully franked 6.4% dividend.

Westpac Banking Corp (ASX: WBC)

Australian bank shares have been thoroughly beaten down over the last 12 months due largely to the negative news flow coming out of the Royal Commission. While this news flow is unlikely to stop any time soon as the Royal Commission still has a lot more to go through, I feel reasonably confident that bank shares have bottomed or are at least close to bottoming. So with their shares changing hands on below average multiples, now could be a good time to consider a patient investment. Especially with the generous yields on offer. The shares of Westpac, my favourite in the sector, offer a trailing fully franked 6.3% dividend at present.

Breaking news: ASX companies set to raise dividends!

It's been a nail-biter of a reporting season here in the first half of 2018.

But the real action, in my opinion, is what companies are doing with dividends.

What does this mean for you? Well there is one stock I've found that could very well turn out to be THE best buy of 2018. And while there's no such thing as a 'sure thing' when it comes to investing - this ripper might come as close as I've ever seen.

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Motley Fool contributor James Mickleboro owns shares of Westpac Banking. 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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