As was widely expected, on Tuesday the Reserve Bank kept rates unchanged for another month.
Unfortunately for income investors, this is likely to remain the case for some time to come. Which means it could be a long time until interest rates increase to more normal levels.
Because of this, I think income investors ought to consider the many quality dividend shares on offer on the local share market.
In my opinion, three top ASX shares for income investors to buy currently are as follows:
Accent Group Ltd (ASX: AX1)
I think that this footwear retailer could be a great option for income investors. Last month the company released an impressive trading update at its annual general meeting. According to the release, the first 20 weeks of FY 2019 have been “materially stronger” than expected. As a result, first half EBITDA is expected to be between 15% and 20% higher than the prior corresponding period. I believe this puts Accent in a great position to grow its dividend strongly in FY 2019. At present its shares offer a trailing fully franked 4.9% yield.
National Storage REIT (ASX: NSR)
One of my favourite dividend shares right now is National Storage. It is the owner and operator of one of Australia and New Zealand’s largest self-storage networks. I’m a big fan of the company due to its robust business model, defensive qualities, and its growth through acquisition strategy. At present the company’s units offer investors a generous trailing 5.5% distribution yield.
WAM Capital Limited (ASX: WAM)
The WAM Capital share price has fallen heavily over the last couple of months, which means its shares now offer a trailing fully franked 6.8% dividend. The catalyst for the decline has been the underperformance of its investment portfolio in October. Due to the market selloff, WAM Capital’s investment portfolio was down 4.2% year to date at the end of October. While this decline is disappointing, I believe the company is capable of turning things around quickly and outperforming the market.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Accent Group and 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.