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3 top shares I would want in my retirement portfolio

With term deposits and savings accounts offering paltry returns at the moment I believe the share market is the best place for retirees to invest their hard-earned money.

Whilst there are a good number of quality options for income investors, three top dividend shares in particular jump out at me today. They are listed below:

Dicker Data Ltd (ASX: DDR)

I think that this founder-led computer software and hardware wholesale distributor could be a great addition to a retirement portfolio. Not only do its shares currently offer an above-average forward fully franked dividend yield of 6%, Dicker Data pays this in quarterly instalments. This is great for investors in search of more regular sources of income. Pleasingly, I believe this dividend could grow at a solid rate in the future thanks to the robust nature of its business model and industry-leading position. Another positive is that an insider recently picked up a considerable number of shares on-market, which I interpret as a sign that they have confidence in the company’s performance and prospects.

Rural Funds Group (ASX: RFF)

As its name implies, Rural Funds is a real estate investment trust which has a focus on agricultural assets. Its diverse portfolio of assets just got larger this month with the planned acquisition of cattle feedlots located in Queensland and New South Wales from JBS Australia for $52.7 million. These facilities have a combined capacity of 150,000 Standard Cattle Units, representing approximately 15% of Australia’s lot fed cattle capability. I think that this acquisition could be a real boost to its future earnings, putting it in a position to continue growing its dividend over the coming years. At present its shares offer a 5% yield which is also paid in quarterly instalments.

Westpac Banking Corp (ASX: WBC)

If you don’t already have exposure to the banking sector, then I think Westpac could be a good option. Although the banks have been through a lot this year and have a slowing housing market to contend with now, I believe recent share price declines mean that this has all been priced in now. So with Westpac’s shares trading on lower than normal multiples, I think its trailing fully franked 6.4% dividend is an attractive option for income investors.

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