The Motley Fool

Why I would buy ANZ and these ASX dividend shares today

Fortunately, in this low interest rate environment, the ASX is home to a large number of shares offering generous dividend yields.

Three top dividend shares that I would consider buying this week are listed below. Here’s why I would buy them:

Australia and New Zealand Banking Group (ASX: ANZ)

Whilst I think all the big four banks are worth considering, my favourite in the group at this point is ANZ. This is largely due to its valuation and the dividend yield its shares offer. At 12.5x earnings and offering a trailing fully franked 5.7% dividend yield, I think ANZ’s shares are very attractive. Especially given its strong capital position and the improving housing market. The latter could lead to an increase in demand for mortgage loans and support its bottom line.

Macquarie Group Ltd (ASX: MQG)

But if you’re not a fan of the big four banks and want exposure to banking, then Macquarie could be a good alternative. I’m a big fan of Macquarie due to the quality and diversity of its operations. I believe this diversity and its talented management team have positioned it for solid long term profit and dividend growth. At present I estimate that Macquarie’s shares offer a partially franked forward dividend yield of 4.3%.

Stockland Corporation Ltd (ASX: SGP)

Another dividend share to consider is this diversified Australian property company. Stockland owns, manages and develops retail centres, workplace and logistics assets, residential and retirement communities. Pleasingly, earlier this month Stockland released a solid Q1 update. That update revealed an improvement in residential sales, an increase in comparable retail MAT growth, continued up-weighting in logistics, and progress in its commercial property development pipeline. This year it is forecast to increase its distribution to 27.8 cents per unit, which equates to a generous forward 5.8% distribution yield.

And don't miss out on these dividend shares that have just been given buy-ratings by a leading analyst.

Top 3 Dividend Shares To Buy For 2020

When Edward Vesely -- our resident dividend expert -- has a stock tip, it can pay to listen. With huge winners like Dicker Data (up 147%) and Collins Food (up 105%) under his belt, Edward is building an enviable following amongst investors that are planning for retirement.

In a brand new report, Edward has just revealed what he believes are the 3 best dividend stocks for income-hungry investors to buy now. All 3 stocks are paying growing fully franked dividends giving you the opportunity to combine capital appreciation with attractive dividend yields.

Best of all, Edward’s “Top 3 Dividend Shares To Buy For 2020” report is totally free to all Motley Fool readers.

Click here now to access this free report.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group 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.

FREE REPORT: Five Cheap and Good Stocks to Buy now…

Our Motley Fool experts have FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.7% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.