The Australian share market may have an average dividend yield of 4%, but that doesn't mean you have to settle for that.
Listed below you'll find five quality dividend shares that offer significantly better yields than the market average. Here's why I think they are worth a look:
BHP Billiton Limited (ASX: BHP)
Although this mining giant's shares hit a 52-week high today, they still offer a trailing fully franked 4.5% dividend yield. I think this makes it an attractive option for investors looking for exposure to the resources sector, especially given the fact that its recent asset divestments mean there's a possibility of a special dividend in the near future.
Dicker Data Ltd (ASX: DDR)
This founder-led computer software and hardware wholesale distributor is one of my favourite dividend shares on the ASX. Thanks to its solid performance and growth prospects, this year the Dicker Data board intends to grow its dividend to 18 cents per share. This equates to a yield of 6% based on its current share price.
National Storage REIT (ASX: NSR)
Another top income option in my opinion is National Storage. It is a real estate investment trust focused on self-storage assets. Due to growing demand for self-storage and its acquisition plans, I believe it is well-positioned to continue increasing its distribution over the coming years. At present its shares offer a trailing 5.8% distribution yield.
Rural Funds Group (ASX: RFF)
I think this real estate investment trust is also worth considering. It owns a diverse and quality asset portfolio comprising 44 properties across six different agricultural sectors including cattle, wine, and cotton production. This year management plans to pay a distribution of 10.43 cents per unit, equating to a forward yield of 4.8%.
Westpac Banking Corp (ASX: WBC)
I think that Westpac is a great option for income investors after the recent pullback in its share price. While trading conditions are certainly not easy for the banks, I believe this has been fully priced in now. At present Westpac's shares offer a generous trailing fully franked 6.8% dividend.
