3 quality dividend shares that provide a regular paycheck

Credit: GotCredit

While most shares on the Australian share market provide a dividend twice a year, some pay out dividends even more frequently.

This can be great for retirees that are looking for a regular source of income.

Three top dividend shares that pay quarterly dividends are listed below. Here’s why I like them:

Aventus Retail Property Fund (ASX: AVN)

Aventus is a specialist fund and asset manager of large format retail centres across Australia. It pays its distribution on a quarterly basis with the first instalment due in November of each year. In FY 2018 Aventus grew its funds from operations by 2.3% to $89 million or 18.1 cents per unit. This was driven largely by its high occupancy levels and allowed the Aventus board to increase its distribution by 2.4% to 16.3 cents per unit. This equates to a generous trailing distribution yield of 7.4%.

Dicker Data Ltd (ASX: DDR)

This founder-led computer software and hardware wholesale distributor is probably my favourite dividend share on the Australian share market. This is due to its solid growth prospects, strong management team, high level of insider ownership, and generous yield. This year management intends to pay a full year fully franked dividend of 18 cents per share in quarterly instalments. This works out to be a yield of 6%. The first instalment of this dividend was paid in May of this year.

Rural Funds Group (ASX: RFF)

Rural Funds is a real estate property trust which is focused on agricultural assets. In FY 2018 the property trust posted a solid 26% increase in total adjusted funds from operations to $32.3 million. Pleasingly, I think its diverse and quality asset portfolio has put it in a great position to continue delivering solid earnings and distribution growth over the next few years. This could make it a great option for income investors. In FY 2019 management plans to pay a distribution of 10.43 cents per unit, equating to a forward yield of 4.8%. The first instalment of this distribution will be paid in October.

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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!

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Dicker Data Limited and RURALFUNDS STAPLED. 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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