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.
