As I mentioned here at the weekend, Westpac Banking Corp (ASX: WBC) continues to forecast two more cash rates cuts in 2020.
This will take the cash rate down to an ultra-low 0.25% and put further pressure on the interest rates offered with savings accounts and term deposits.
Luckily, the ASX dividend shares listed below all offer yields that will allow income investors to earn a decent income in this low interest rate environment. Here's why I like them:
Accent Group Ltd (ASX: AX1)
I think Accent Group is a great option for income investors. It is the footwear-focused retail group behind popular retail chains such as Athlete's Foot, HYPE DC, and Platypus. Accent also owns the exclusive rights to a number of popular global footwear brands in the Australian market. It has been performing very strongly in recent years despite the tough trading conditions in the retail sector. Pleasingly, it looks well-placed to continue this trend in FY 2020 after a positive start to the year. I estimate that its shares offer a forward fully franked 4.7% dividend yield.
Scentre Group (ASX: SCG)
Another dividend share to consider buying is Scentre Group. It is the property company behind the Westfield shopping centres in the ANZ market. These are amongst the highest quality shopping centre assets in the region and remain highly popular with consumers. So much so, at the of September Scentre had recorded over 535 million customer visits on a 12 months basis. Unsurprisingly, this has led to strong demand for tenancies from many of the biggest retailers in the world, which has supported a sky high occupancy rate. I believe this puts Scentre in a position to grow its distribution at a modest rate in the coming years. At present its units offer a trailing 5.7% distribution yield.
Stockland Corporation Ltd (ASX: SGP)
A final option for income investors to consider is Stockland. This property group owns, manages and develops a diverse range of quality assets such as retail centres and residential properties. After a strong performance in FY 2019, Stockland has started the new financial year on a positive note. As a result, I estimate that its shares currently offer a generous forward 5.7% distribution yield.
