Today’s stock market moves have exposed some lower pricing for many popular ASX dividend payers. Dividend shares have been pushed to record levels in 2019 so far as a result of our new low interest rate environment, so any pull-backs will be welcomed by investors desperate for yield.
Here are three ASX dividend shares looking cheap today
Telstra Corporation Ltd (ASX: TLS)
Telstra has had a phenomenal 2019 so far, with TLS shares up almost 40% YTD. This a substantial turnaround for this former pariah of the ASX. Since topping the $4 mark for the first time since 2017 at the start of the month, Telstra shares have now pulled back to the $3.84 level today and may be a good opportunity to pick up some shares if Telstra is on your watchlist. In my opinion, there is a lot to like about Telstra. The company’s strong branding combined with a defensive earnings base underpins Telstra’s healthy 3.91% dividend yield and makes this stock a nice income earner.
Westpac Banking Corp (ASX: WBC)
Westpac shares have taken a 2.72% tumble today and now sit at a price-to-earnings ratio of around 12 – which is looking appealing from a value perspective. Today’s price fall has also pushed the trailing dividend yield to 6.8% – which will make any income investor very happy – especially if you throw in the full franking credits that come with it. Considering Westpac’s 52-week high sits at $30.44, now could be a great time to pick up some extra WBC shares if you’re so inclined.
South32 Ltd (ASX: S32)
South32 is sitting at a 52-week low and has been pushed down another 3.5% today – making it a potentially lucrative value opportunity. Although many analysts are expecting that the special dividend that was paid out in its February interim payout won’t be repeated, I still think S32 shares are a great income stock to hold. If the shares stay at the sub-$3 level, it represents (in my opinion) an opportunity to load up on South32 at a discount and lock in a higher yield.
In conclusion, any time shares go on sale is an opportunity to take a look at the quality ASX dividend payers you may have on your watchlist. These three stocks are all quality companies, but the market may be throwing out even better discounts over the next few days, so keep your eyes peeled!
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Motley Fool contributor Sebastian Bowen owns shares of Telstra Limited. The Motley Fool Australia owns shares of and has recommended Telstra Limited. 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.