Yesterday the latest Westpac Banking Corp (ASX: WBC) Weekly report was released and it once again revealed that its economists have low expectations for rate rises in Australia.
According to the report, the bank expects the cash rate to remain on hold at the record low of 1.5% until at least March 2020.
While a lot can change in the space of 18 months, I think there’s a good chance that this forecast could prove accurate.
In light of this, I continue to believe that savers would be better off skipping savings accounts and putting their money to work in the share market.
Three top dividend shares I would consider buying are listed below:
Dicker Data Ltd (ASX: DDR)
One of my favourite dividend shares on the local market is Dicker Data. The leading computer software and hardware wholesale distributor’s shares not only offer a generous dividend yield of approximately 5.8%, but this is paid out in quarterly instalments. I think is ideal for income investors that are in search of a regular pay check. Especially given its positive outlook and strong business model.
National Storage REIT (ASX: NSR)
This real estate investment trust has been growing its network of self-storage units throughout Australia and New Zealand this year. It recently advised of plans to acquire eight new high-quality self-storage assets, bringing its total network to 130 facilities. This should allow the company to take advantage of increasing demand for self-storage services due to population growth and downsizing from baby boomers. Its shares currently offer a trailing distribution yield of approximately 5.6%.
WAM Capital Limited (ASX: WAM)
This listed investment company provides Australian investors with exposure to an actively managed diversified portfolio of undervalued growth companies. Thanks to some great stock picking the company’s funds have been performing impressively well over the last few years, allowing it to increase its dividend consistently. In fact, this month it is likely to increase its full-year dividend for a ninth year in a row. Its shares currently offer a trailing fully franked 6.1% dividend.
Looking for more dividend ideas? Then don't miss the number one pick for FY 2019.
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 Dicker Data Limited. 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.