With an average dividend yield of approximately 4%, the Australian share market is one of the more generous markets in the world.
Which certainly is good news given how low interest rates have fallen.
But with so many shares to choose from, it can be hard to decide which ones to buy.
To help you on your way, I have picked out three dividend shares that I think would be great options this week. They are as follows:
National Australia Bank Ltd (ASX: NAB)
The banking sector has taken a bit of a beating this month following the release of a number of full year results. I think this could be an opportunity to pick up shares at a more attractive price. One of my favourites is NAB. This is due to its strong underlying performance in FY 2019 and its positive outlook due to its overweight exposure to SME lending. Its shares currently offer a trailing 5.75% fully franked dividend yield. And if you act fast, you'll qualify for its next payout.
Super Retail Group Ltd (ASX: SUL)
I think Super Retail would be a good option for income investors. It is the company behind retail chains BCF, Macpac, Rebel, and Super Cheap Auto. After a strong performance in FY 2019, it has followed this up with a solid start to FY 2020. And although it has advised that its margins have softened, I remain confident it will deliver modest earnings and dividend growth this year. Overall, I estimate that its shares offer a forward fully franked 5.4% dividend yield.
Transurban Group (ASX: TCL)
This toll road operator continues to be one of my favourite dividend shares on the local market. This is due to its defensive qualities, solid growth potential, and long track record of distribution increases. The good news is that I believe the combination of toll increases, acquisitions and developments, and increasing traffic, means Transurban can continue growing its distribution for a long time to come. Its units currently offer a forward 4.1% distribution yield.