Thankfully for income investors in this low interest rate environment, the Australian share market is one of the most generous in the world with an average dividend yield of 4%.
Whilst there are a lot of quality options, three of my favourites right now are listed below. Here's why I think they could be amongst the best dividend shares to buy on the ASX:
Accent Group Ltd (ASX: AX1)
Accent is the footwear group responsible for retail brands such as The Athlete's Foot, HYPE DC, and Platypus. In the first half of FY 2019 the company was an impressive performer, growing net profit after tax by 27.3% to $32.2 million. This allowed the Accent board to increase its interim dividend by 50% to 4.5 cents per share, meaning its shares now offer a trailing fully franked 5.3% dividend. The good news is that with management expecting second half EBITDA growth of 10%, I think there's a strong probability that the board will increase its final dividend as well.
Aventus Retail Property Fund (ASX: AVN)
Aventus is the largest fully-integrated owner, manager, and developer of large format retail centres in Australia, with a portfolio of 20 centres spanning 535,000m2 in gross leasable area and a diverse tenant base of 577 quality tenancies. These include companies such as Harvey Norman Holdings Limited (ASX: HVN), Officeworks, and The Good Guys. Aventus released its half year results last month and posted a 6.3% increase in funds from operations to $47 million. This was driven by its high occupancy levels and a 3.3% increase in like for like net property income. Aventus' units currently offer a trailing 7.2% distribution yield.
National Storage REIT (ASX: NSR)
I think this self-storage-focused real estate investment trust could be a great option for income investors due to its defensive qualities and generous dividend yield. National Storage is one of the ANZ region's largest self-storage operators with a network of 146 centres and a growing pipeline of development and acquisition opportunities. Pleasingly, the trust's management is positive on its prospects in FY 2019 and recently advised that it plans to pay a full year distribution of 9.6 cents to 9.9 cents per unit. This equates to a yield of between 5.5% and 5.7%.
