3 high yield ASX dividend shares to buy next week

Accent Group Ltd (ASX:AX1) shares are one of three on the ASX that I think income investors ought to consider buying next week…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

With the cash rate at a record low and being tipped to go even lower later this year, I think savers would be better off putting their money to work in the share market than leaving it to gather only paltry interest in a savings account.

Especially given the large number of quality dividend shares that offer yields which are vastly superior to anything you'll receive from savings accounts or term deposits.

Three dividend shares I would buy next week are listed below:

Accent Group Ltd (ASX: AX1)

I think this footwear-focused retail group would be a great option for income investors. Accent's shares have been strong performers in 2019 thanks to an impressive first half which saw the company post a 27.3% increase in net profit after tax to $32.2 million. This was driven by a combination of solid like for like sales growth and strong gross margin improvement. Despite its shares rising strongly this year, they still offer a trailing fully franked 5.7% dividend yield. Pleasingly, with management expecting second-half EBITDA to grow by 10%, there's a good chance its final dividend will be increased.

National Storage REIT (ASX: NSR)

Another top dividend share to consider is National Storage. It is one of Australasia's largest self-storage owner-operators with a network of 146 centres and a growing pipeline of acquisition and development opportunities. Thanks to a combination of robust demand and inorganic growth, I believe National Storage is well-positioned to grow its profits and distribution at a solid rate for the next few years. This year the REIT's board intends to pay a full year distribution of 9.6 cents to 9.9 cents per unit, which equates to a yield of between 5.6% to 5.8%.

Rural Funds Group (ASX: RFF)

This real estate property trust could be another dividend share to consider buying next week. As of its last update, Rural Funds owned a total of 49 properties across six agricultural sectors and multiple climactic zones. I'm a big fan of the trust due to its use of rental indexation and its long term leases. At present, the trust has a weighted average lease expiry of 11.4 years. I believe this has positioned the trust perfectly to achieve its target of distribution growth of at least 4% each year. In FY 2019 Rural Funds intends to pay a total distribution of 10.85 cents per unit, which equates to a yield of 4.9% at present.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended RURALFUNDS STAPLED. The Motley Fool Australia has recommended Accent Group and National Storage REIT. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on ⏸️ Income

⏸️ Income

2 quality ASX dividend shares to buy today

Here's why Coles Group Ltd (ASX:COL) and this ASX dividend share could be quality options for income investors right now...

Read more »

piles of australian one hundred dollar notes
⏸️ Income

Got money to invest for dividends? Here are 2 ASX shares

Do you have some money to invest ASX shares for dividends? One idea could be shoe business Accent Group Ltd…

Read more »

man handing over wad of cash representing ASX retail capital return
⏸️ Income

2 top ASX dividend shares to buy for your income portfolio

BWP Trust (ASX:BWP) and this top ASX dividend share could be great options for your income portfolio. Here's why...

Read more »

a woman
⏸️ Income

2 ASX 200 shares to buy for income

The 2 S&P/ASX 200 Index (ASX:XJO) shares could be worth buying for income, including Premier Investments Limited (ASX:PMV).

Read more »

⏸️ Income

2 ASX dividend shares to buy with yields above 4%

These 2 ASX dividend shares have yields above 4% and could be worth buying for income including Brickworks Limited (ASX:BKW).

Read more »

ASX expensive defensive shares man carrying large dollar sign on his back representing high P/E ratio or dividend
⏸️ Income

2 blue chip ASX dividend shares in the buy zone

Westpac Banking Corp (ASX:WBC) and this blue chip ASX dividend share could be top options for income investors right now...

Read more »

A row a pink piggy banks ranging in size from small to big, indicating ASX share price and dividends growth CBA bank dividend increase
⏸️ Income

Brokers rate these 2 ASX dividend shares as buys

These 2 ASX dividend shares are rated as buys by brokers, including the REIT Growthpoint Properties Australia Ltd (ASX:GOZ).

Read more »

blockletters spelling dividends bank yield
⏸️ Income

2 high yield ASX dividend shares to buy next week

Here's why Telstra Corporation Ltd (ASX:TLS) and this high yield ASX dividend share could be top options for income investors...

Read more »