Later today eligible shareholders of BHP Group Ltd (ASX: BHP) will be paid the mining giant's 55 U.S. cents (~77.4 Australian cents) per share interim dividend.
Whilst some shareholders may use these funds as a source of income or take advantage of the company's dividend reinvestment plan, others may wish to reinvest the funds back into the share market.
For those shareholders, here are three quality options to consider investing the funds into:
National Storage REIT (ASX: NSR)
Looking for even more dividends? Then this self-storage-focused real estate investment trust could be a great option. National Storage is one of the ANZ region's largest self-storage operators with a network of 146 centres. It also has a growing pipeline of development and acquisition opportunities and a hefty cash balance to fund them. Demand for its services has been strong and has given management the confidence to forecast a full year distribution of between 9.6 cents to 9.9 cents per unit in FY 2019. This equates to a yield of between 5.5% and 5.7%.
ResMed Inc (ASX: RMD)
If you're looking for a buy and hold option then I think ResMed would be worth considering. ResMed is a medical device giant with a portfolio of cloud-connected devices which care for people with sleep apnoea, chronic obstructive pulmonary disease, and other chronic diseases. Due to the quality of its products, its wide distribution network, and the fact that the sleep treatment market is tipped to grow at a strong rate over the next decade, I believe ResMed is well-positioned to achieve solid earnings growth for many more years to come.
Webjet Limited (ASX: WEB)
Another buy and hold option to consider investing your dividends into is this online travel agent. I believe Webjet is well-positioned to continue growing its earnings at a strong rate over the next decade thanks to the increasing popularity of its numerous B2B and B2C brands and the continued shift to online travel booking. I believe this could lead to outsized returns from the company's shares.
