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3 high yield dividend shares that I would buy today

As I mentioned here earlier today, the Westpac Banking Corp (ASX: WBC) economics team has forecast the cash rate remaining on hold at 1.5% until at least December 2020.

The good news is that the Australian share market currently offers an average dividend yield of approximately 4.2%.

The even better news is that you don’t have to settle for that yield as there are a few top dividend shares that offer even juicier yields right now.

Three that I would consider are listed below:

Dicker Data Ltd (ASX: DDR)

This leading founder-led computer software and hardware wholesale distributor plans to pay a fully franked 18 cents per share dividend in its current financial year. Based on its current share price, this equates to a yield of approximately 6.1%. Due to its robust business model and growing vendor agreements, I believe Dicker Data is well positioned to grow this dividend at a solid rate over the next few years.

National Storage REIT (ASX: NSR)

This real estate investment trust’s units currently offer a trailing distribution yield of 5.7%. Thanks to its acquisition plans and the growing demand for self-storage facilities from population growth and downsizing, I believe it is capable of growing its distribution over the coming years, potentially making it a great long-term option for income investors.

Super Retail Group Ltd (ASX: SUL)

This retail group was a strong performer in FY 2018, delivering a 26% increase in net profit after tax to $128.3 million. If the company’s Super Cheap Auto, Macpac, and Rebel brands can continue their solid performances in FY 2019, then there’s a strong probability that its generous dividend will grow further. At present its shares offer a trailing fully franked 5.2% dividend. Though I would suggest investors wait for its trading update at its annual general meeting tomorrow before making a move.

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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. The Motley Fool Australia owns shares of Super Retail Group 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.