Later today eligible shareholders of National Australia Bank Ltd (ASX: NAB) will receive the banking giant's latest dividend.
NAB will be paying shareholders its 83 cents per share fully franked final dividend.
Whilst some investors will be using this as a source income, others may be planning to reinvest the funds back into the share market.
For those investors, here are three ASX shares that I would invest these funds into:
Aventus Group (ASX: AVN)
If you're interested in earning even more income, then Aventus could be worth considering. It is a leading owner and operator of large format retail centres (retail parks) across Australia. Its centres are home to many of Australia's most prominent retail brands such as Chemist Warehouse, The Good Guys, Officeworks, and Bunnings. Solid demand for tenancies has led to a sky high occupancy rate, which I believe leaves it well placed for solid income and distribution growth. I estimate that its shares offer a forward 6% distribution yield.
Helloworld Travel Ltd (ASX: HLO)
Investors looking for a combination of growth and income might want to consider this integrated travel company. Helloworld was a strong performer in FY 2019 and has started the new financial year on a positive note. It recently reported first quarter EBITDA growth of 7.7%, putting the company in a strong position to deliver solid profit and dividend growth in FY 2020. At present its shares offer a trailing fully franked 4.5% dividend yield.
Serko Ltd (ASX: SKO)
Investors that are interested in sinking these funds into a high risk, high reward option might want to take a look at Serko. It is an online travel booking and expense management provider which I believe has enormous potential. Due to strong demand from new and existing customers, Serko posted a 28% increase in total operating revenue to NZ$23.4 million in FY 2019. Pleasingly, the company has started FY 2020 on a very positive note and is on track to achieve its operating revenue growth guidance of 20% to 40%. It also recently raised NZ$56 million via a placement to institutional investors and travel giant Booking Holdings.
