Later today eligible shareholders of BHP Group Ltd (ASX: BHP) will be paid its special US$1.02 per share dividend.
This massive US$5.2 billion pay-out brings BHP's total cash returned to shareholders to US$21 billion over the last two years.
While some shareholders will use this dividend as a source of income, I suspect others will be looking to invest it back into the share market.
Here's where I would reinvest these funds:
Aristocrat Leisure Limited (ASX: ALL)
If you'd like to invest these funds into growth shares then I think that Aristocrat Leisure would be a great option. Due to a reasonably sharp pullback in its share price over the last few months, I think Aristocrat Leisure's shares are trading at a very attractive level for a long-term investment. Especially given the significant potential of its Digital segment which has exposure to the rapidly growing mobile and social gaming markets.
Collins Foods Ltd (ASX: CKF)
I think a great option for investors looking for a combination of growth and income would be this quick service restaurant operator. Due to its expansion opportunities in Europe for the KFC brand and the rollout of the Taco Bell brand in Australia, I believe Collins Foods has a long runway for growth. I believe this will put it in a position to grow both its earnings and dividend at a solid rate over the long term. At present its shares offer a trailing fully franked 2.7% dividend yield.
Dicker Data Ltd (ASX: DDR)
Investors in search of even more income might want to consider this leading computer hardware and software distributor. Especially after the release of its unaudited full year results on Tuesday revealed that it has had another strong year. This has put the company in a position to increase its dividend again. Potentially even beyond its planned 18 cents per share dividend, which equates to a 5.9% yield at present.
