3 top ASX dividend shares for income investors to buy today

Transurban Group (ASX:TCL) shares are one of three that I think income investors ought to consider buying this 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

Luckily for income investors in this low interest environment, the Australian share market is home to a large number of quality dividend shares offering generous yields.

Three which I think are worth considering this week are listed below. Here's why I like them:

Aventus Group (ASX: AVN)

Aventus is an owner, manager, and developer of retail parks in Australia. Across its 20 sites the company counts many of the biggest retailers in the country as tenants such as JB Hi-Fi Limited (ASX: JBH) and Officeworks. Despite tough trading conditions in the retail sector, demand for its leases has remained incredibly strong. So much so, in the first half the company advised that 98.5% of its portfolio was occupied. I believe the combination of this solid demand and periodic rental increases has positioned the company well to grow its dividend each year for the foreseeable future. At present its units offer a trailing 6.9% distribution yield.

Rural Funds Group (ASX: RFF)

Another top dividend share to consider buying this week is this agriculture-focused property group. I think it is one of the best options on the local market due to the quality of its assets and its ultra-long tenancy agreements. In respect to the latter, at the last count the company's weighted average lease expiry (WALE) was 11 years. This is a big positive as it is expected to provide stable income and long term rental growth via a mix of rent reviews and indexation. This year the company intends to pay a distribution of 10.43 cents per share, which equates to a yield of 4.4%.

Transurban Group (ASX: TCL)

A final dividend share to consider buying is this toll road operator. I'm a big fan of Transurban and believe it is well-placed for growth thanks to the increasing number of vehicles using its roads and periodic toll increases. In addition to this, I expect the recent Westconnex acquisition to be a key driver of growth over the coming years. At present Transurban's shares offer a trailing distribution yield of 3.9%.

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 and Transurban Group. The Motley Fool Australia has recommended AVENTUS RE UNIT. 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 ⏸️ Dividend Shares

A boy hold money and dressed in business suit next to money bags on a desk, indicating a dividends windfall
⏸️ Dividend Shares

The Accent (ASX:AX1) dividend has lifted by 22%

The company will reward shareholders with an increased dividend...

Read more »

a woman sits in the driver's seat of a car with her arm resting on the door with a small smile on her face, looking out of the car.
⏸️ Dividend Shares

Carsales (ASX:CAR) share price records a modest rise on dividend slash

Australia's largest online automotive and marine classifieds business notches a conservative share price rise on its latest report.

Read more »

A young entrepreneur boy catching money at his desk, indicating growth in the ASX share price or dividends
Bank Shares

ASX 200 bank shares to follow suit after CBA dividend hike: expert

Dividend investors rejoice! This expert expects more dividends to come from ASX 200 bank shares...

Read more »

sad looking petroleum worker standing next to oil drill
Share Fallers

AGL (ASX:AGL) dividend slashed. Share price down 3% on Thursday

More headwinds for the energy giant as its dividend is now in the spotlight.

Read more »

A girl looks through a microscope at money.
⏸️ Dividend Shares

The ANZ (ASX:ANZ) share price has only gained 10% in 5 years. But have the dividends paid off?

We do the math to see if it has been worth investing in ANZ shares over the long term...

Read more »

man laying on his couch with bundles of money and extremely ecstatic about high dividend returns
⏸️ Dividend Shares

The NAB (ASX:NAB) share price is flat 5 years on. But have the dividends paid off?

We calculate if it has been worth investing in NAB shares over the long run...

Read more »

two children dressed in business attire with joyous, wide-mouthed expressions count money at a desk covered in cash and sacks of money either side.
⏸️ Dividend Shares

Top-10 ASX dividend share delivers market-thumping share price gains

The Holy Grail for income stocks is to return strong capital gains as well

Read more »

happy woman looking at her laptop with notes of money coming out representing financial success and a rising share price and dividend yield
⏸️ Dividend Shares

Mining shares in the ASX 200 might unearth US$26b worth of dividends

Are shareholders about to dig some dividends?

Read more »