3 top ASX dividend shares to help you beat the interest rate cuts

Macquarie Group Ltd (ASX:MQG) and these ASX dividend shares could be great options if you want to beat interest rate cuts in 2020…

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Tomorrow afternoon the Reserve Bank will meet to decide on the cash rate. The general consensus is that the central bank will refrain from making a cut this month.

However, current cash rate futures indicate that the market doesn't expect this to be the case for too long. Cash rate futures are pointing to a 100% probability of a rate cut by June of this year.

This will bring the cash rate down to a record low of 0.5%. It will also put pressure on Commonwealth Bank of Australia (ASX: CBA) and the rest of the big four to cut the interest rates on offer with interest-bearing assets.

But don't worry, because the Australian share market is here to the rescue.

Here are three top dividend shares that will help you beat the rate cuts:

Accent Group Ltd (ASX: AX1)

Accent Group is a footwear-focused retail group behind popular retail chains such as Athlete's Foot, HYPE DC, and Platypus. It is also the owner of the exclusive rights to a number of popular global footwear brands in the Australian market. After a positive start to FY 2020, I'm confident that it is well-placed for further profit and dividend growth this year. At present I estimate that its shares offer a forward fully franked 5.1% dividend yield.

Macquarie Group Ltd (ASX: MQG)

Whilst I think the big four banks are in the buy zone, if you're not a fan then Macquarie could be a good alternative. Due to the quality and diversity of its operations and its talented management team, I feel it is well-positioned for growth over the next decade. At present Macquarie's shares offer a partially franked estimated forward dividend yield of approximately 4.1%.

Stockland Corporation Ltd (ASX: SGP)

A final option to consider buying is Stockland. This property group owns, manages and develops a diverse range of quality assets such as retail centres and residential properties. Pleasingly, Stockland has built on FY 2019's solid result and started the new financial year in a positive fashion. Based on this, I estimate that its shares currently offer a forward 5.7% distribution yield.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool Australia has recommended Accent Group. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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