Later today eligible Australia and New Zealand Banking Group (ASX: ANZ) shareholders will be paid the banking giant's final fully franked 80 cents per share dividend.
Many shareholders may use these funds as a source of income or for some last minute Christmas shopping, while others may plan to reinvest the funds back into the share market.
Here's where I would reinvest these funds:
Collins Foods Ltd (ASX: CKF)
I think Collins Foods could be a great option for investors that are in search of growth and income. This quick service restaurant operator owns a growing number of KFC restaurants in Australia and the underpenetrated European market. In addition to this, the company recently announced plans to roll out the Taco Bell brand across several Australian states following a successful trial in Queensland. Combined with its European expansion, I'm optimistic the company is well-positioned to grow both its earnings and dividend at an above-average rate over the coming years.
Dicker Data Ltd (ASX: DDR)
Investors that are on the lookout for even more dividends might want to consider this leading ICT distributor. Dicker Data specialises in servicing the mid-market and SMB communities and has had great success with this strategy. So much so, it has delivered seven consecutive halves of revenue growth and looks set to continue this trend this year, allowing it to increase its dividend further. At present its shares offer a generous fully franked forward yield of 6.2%.
REA Group Limited (ASX: REA)
Another great option for these funds could be this property listings company. REA Group has proven its doubters wrong this year by delivering solid earnings growth despite the housing market downturn. In the first quarter of FY 2019 REA Group delivered a 17% increase in revenue to $221.9 million and a 23% lift in EBITDA to $130.9 million. Management advised that price changes, an improving product mix, and further depth penetration were the drivers of this solid growth. I expect more of the same over the rest of FY 2019, potentially making it a great share to own.
