3 high yield dividend shares for income investors

Luckily for income investors in this low interest environment, the Australian share market is one of the most generous in the world with an average dividend yield of approximately 4%.

Three shares that provide higher-than-average yields are listed below. Here’s why I think investors ought to consider snapping them up today:

Accent Group Ltd (ASX: AX1)

After a pullback in its share price over the last couple of weeks, this footwear retailer’s shares offer investors a trailing fully franked 4.3% dividend at present. I think this above-average yield could widen meaningfully in the future thanks to its expansion plans and the strength of its exclusive and popular licensed brands which only it can sell in the local market. This could make it one of the best dividend options in the retail sector.

National Storage REIT (ASX: NSR)

I think that this storage giant could be one of the top dividend options on the local market right now. Not only do its shares provide an above-average distribution yield of 5.6%, I think there’s a good chance that this distribution will grow at a decent rate over the coming years thanks to its growth plans. These include the acquisition of eight quality self-storage assets in Australia and New Zealand and the redevelopment of existing sites.

WAM Capital Limited (ASX: WAM)

WAM Capital is my favourite listed investment company and provides investors with exposure to an actively managed diversified portfolio of undervalued growth companies listed on the ASX. I have been very impressed at the performance of its funds in the past and in the current year. If the company can continue its strong run next year, then I believe WAM Capital will be in a position to make it ten years of dividend increases in a row. WAM Capital’s shares currently offer income investors a trailing fully franked 6.3% dividend.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. 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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