This time next week the Reserve Bank of Australia will hold its first meeting of 2019.
Like the countless meetings before it, the central bank is expected to keep rates on hold at the record low of 1.5% for another month.
Unfortunately for savers and income investors, I expect this to remain the case for the whole of 2019 and for much of 2020.
This is likely to mean the paltry interest rates on offer with savings accounts and term deposits stick around for some time to come.
Because of this, I think investors should consider skipping these in favour of the many quality dividend shares on offer on the Australian share market.
Three top dividend shares to consider are listed below:
Accent Group Ltd (ASX: AX1)
Accent Group is one of Australia's leading footwear groups responsible for retail brands including The Athlete's Foot, HYPE DC, and Platypus. Although its shares have rallied almost 12% higher since the start of 2019, I still see a lot of value in them at 16x trailing earnings. Especially after a stronger than expected first half performance means management expects interim EBITDA growth of between 15% and 20%. Accent Group's shares currently provide a trailing fully franked 5.1% dividend yield.
National Storage REIT (ASX: NSR)
National Storage is a real estate investment trust with a focus on self-storage assets. Its units currently provide investors with a trailing 5.2% yield. I believe this distribution could grow at a solid rate over the medium term thanks to its development pipeline, growth through acquisition strategy, and increasing demand for its services. This and its defensive qualities could make it a good option for income investors.
Wesfarmers Ltd (ASX: WES)
Another top option for income investors right now could be this conglomerate. Wesfarmers' shares currently offer an estimated fully franked 5.7% forward dividend, which is significantly greater than the market average. Furthermore, with its shares recently coming under pressure after a trading update revealed that its Kmart business struggled over the Christmas period, I think they are trading at an attractive entry level.
