3 high yield dividend shares for income investors

The high yield dividends on offer with Dicker Data Ltd (ASX:DDR) shares and two others could be worth considering in November…

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Earlier today the Australian Bureau of Statistics (ABS) released its consumer price index (CPI) report.

The release revealed that Australian inflation rate has once again fallen short of expectations.

According to the report, annual CPI inflation is now running at 1.9%, which is under the Reserve Bank of Australia's targeted range of between 2% and 3%.

With inflation still falling short of expectations, it seems inevitable that savers are going to have to wait some time until interest rates are increased.

Because of this, I think that income investors ought to consider skipping savings accounts in favour of the share market.

Three top dividend shares that I would buy are as follows:

Dicker Data Ltd (ASX: DDR)

Dicker Data is a leading computer software and hardware wholesale distributor which I believe is one of the best options on the local market for income investors. This year the company intends to grow its dividend to 18 cents per share, which equates to a fully franked 6.3% yield based on its current share price. I think this makes it an attractive option, especially given its strong business model and solid growth prospects.

National Storage REIT (ASX: NSR)

Another top option for income investors would be this storage giant. National Storage has a growing network of self-storage assets spread out across the ANZ region and a sizeable cash balance to fund earnings accretive acquisitions. I believe this and the growing demand for self storage assets has put National Storage in a great position to grow its bottom line and distribution at a solid rate over the coming years. At present the company's units provide a trailing 5.6% distribution.

WAM Capital Limited (ASX: WAM)

WAM Capital is one of my favourite listed investment companies on the local share market. While WAM has a number of options to choose from covering different niches, my favourite remains WAM Capital which focuses on undervalued growth shares. The company's funds have been very successful over the last few years, leading to nine consecutive years of dividend increases. I expect the company to continue this run in FY 2019 and make it a decade of increases. WAM Capital's shares currently offer a trailing fully franked 6.3% yield.

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 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.

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