On Thursday the Woolworths Group Ltd (ASX: WOW) share price has fallen over 3% to $27.50 after its shares went ex-dividend for the conglomerate's 60 cents per share fully franked final dividend.
Eligible shareholders can now look forward to receiving this dividend in their nominated accounts on October 12.
While some shareholders may use these funds as a source of income, others may wish to reinvest the funds back into the share market.
Here are a couple of shares I would consider putting these funds into:
Bingo Industries Ltd (ASX: BIN)
Investors interested in growth shares might want to consider this waste management company. The waste management industry may not be the most exciting place to invest, but it certainly has provided some exciting returns over the last 12 months. Not least with Bingo Industries after it reported pro forma profit growth of 44.8% to $48.2 million in FY 2018.
While I think the company has a long runway for growth as it is due to its expansion plans, it could be given a further boost if its $577.5 million acquisition of Dial A Dump Industries goes through successfully. The ACCC is looking into the acquisition but I'm optimistic that it will go ahead as planned and position Bingo Industries for strong long-term growth.
Rural Funds Group (ASX: RFF)
Investors interested in earning even more income might want to check out this real estate property trust which has a focus on agricultural assets. Last month Rural Funds released its full-year results and revealed a solid 26% increase in total adjusted funds from operations to $32.3 million. Since then the trust has announced the planned acquisition of a cattle property and a cotton property in Queensland for a total of $28 million.
I believe these acquisitions complement its existing portfolio and put the trust in a strong position to continue its positive growth. Management recently reaffirmed its distribution guidance for FY 2019 of 10.43 cents per share. This will be an increase of 4% on the prior year and means its shares provide a forward yield of 4.8% currently.
