With a number of economists tipping the cash rate to be cut twice more within the next six months, the interest rates on offer with term deposits and savings accounts are likely to fall to previously unthinkable levels.
But don't worry because there are a number of shares on the Australian share market that offer dividend yields that smash low interest rates.
Three to consider buying are listed below:
Accent Group Ltd (ASX: AX1)
Accent Group is the footwear-focused retailer behind the likes of Athlete's Foot, HYPE DC, and Platypus. It was a strong performer during the first half of FY 2019 despite tough trading conditions. I remain confident its full year results will be equally strong, putting Accent in a position to increase its dividend. At present its shares provide income investors with a trailing fully franked 5.2% dividend yield.
Aventus Group (ASX: AVN)
Aventus is a leading owner and operator of large format retail parks across Australia. As retail parks continue to be popular with consumers, demand for its properties from many of the largest retailers in the country has remained strong and led to a high occupancy rate in FY 2019. Thanks to this high occupancy rate and periodic rental increases, I believe the company is in a strong position to continue growing its distribution over the coming years. At present its units provide a trailing 6.5% distribution yield.
National Storage REIT (ASX: NSR)
This real estate investment trust is focused on growing its network of self-storage units throughout Australia and New Zealand. It has been on a bit of an acquisition spree this year and has grown its network to 146 centres. I expect this to allow the company to profit from increasing demand for self-storage services due to population growth and downsizing from baby boomers. Its shares currently offer a trailing distribution yield of approximately 5.4%.
