With interest rates at such low levels and potentially going lower in 2020, it is really hard for investors to generate a sufficient level of income.
Luckily the share market is here to save the day. It is home to a large number of shares offering dividend yields that smash interest rates.
Three ASX dividend shares to consider buying this month are listed below:
National Storage REIT (ASX: NSR)
One of my favourite dividend options is National Storage. It is one of the largest operators of self-storage facilities in the ANZ region. Through its network of 168 centres it provides tailored storage solutions to over 60,000 residential and commercial customers. It has been growing at a solid rate in recent years and looks well-positioned to continue this trend for some time to come. Especially given the improving housing market. At present its shares provide a 5.1% trailing distribution yield.
Sydney Airport Holdings Pty Ltd (ASX: SYD)
Another of my favourites is Sydney Airport. Its shares may have been on fire this year thanks to increasing demand for bond proxies, but they still offer a generous dividend yield. And thanks to a recent improvement in domestic passenger numbers and continued growth in international passengers, I believe it is well-placed to grow its dividend again in FY 2020. At present Sydney Airport's shares offer a trailing 4.4% dividend yield.
Vanguard Australian Shares High Yield ETF (ASX: VHY)
If you'd like to invest in a collection of dividend shares in one easy transaction, then you could consider the Vanguard Australian Shares High Yield ETF. This ETF give investors exposure to 60 of the highest paying dividend shares on the Australian share market. This includes the mining giant BHP Group Ltd (ASX: BHP), telco company Telstra Corporation Ltd (ASX: TLS), and Commonwealth Bank of Australia (ASX: CBA) and the rest of the big four. It currently offers investors a forecast forward 5.3% dividend yield at present.
