On Tuesday the Reserve Bank will meet to discuss the cash rate once again. Whilst it seems unlikely that the central bank will cut rates this month, I feel another is inevitable early in 2020.
In light of this, I continue to believe that ASX dividend shares are a great way to beat low rates. Here are three that I would buy:
Lendlease Group (ASX: LLC)
Although its shares don't offer the biggest yield on the local market, I think it is still worth considering. Lendlease is an international property and infrastructure group with operations in Australia, Asia, Europe and the Americas. After a couple of difficult years, I believe it is now well-positioned for solid long-term growth. After all, at end of FY 2019 its development pipeline was approaching $100 billion in project value. At present I estimate that its shares offer a fully franked 4% forward dividend yield.
National Storage REIT (ASX: NSR)
Another option for income investors to consider buying this month is National Storage. This self-storage-focused real estate investment trust owns a network of 168 centres throughout the ANZ region. Whilst this makes it one of the largest in the region, it continues to see plenty of room to grow through developments and acquisitions. I expect this to lead to further solid income and distribution growth for a number of years to come. At present its shares provide a 5.1% trailing distribution yield.
Sydney Airport Holdings Pty Ltd (ASX: SYD)
A third dividend share for income investors to look at this month is Sydney Airport. I think the airport operator is a great option due to its strong market position, pricing power, and history of dividend increases. The good news is that I believe it is well-positioned to continue this positive trend thanks to increasing international tourism and improving domestic tourism trends. At present Sydney Airport's shares offer a trailing 4.4% dividend yield.
