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3 high yield ASX dividend shares for income investors

The Australian share market is one of the most generous markets in the world with an average yield of approximately ~3.8%.

But investors don’t have to settle for that. Here are three high yield dividend shares for investors to consider buying:

Aventus Group (ASX: AVN)

This fully integrated owner, manager and developer of large format retail centres intends to lift its distribution to 17.1 cents per unit in FY 2020. Based on its last close price, this equates to a very attractive 5.9% distribution yield. The good news is that I believe this distribution could continue to grow over the coming years thanks to the increasing popularity of its retail parks with both consumers and retailers.

National Storage REIT (ASX: NSR)

National Storage is one of the ANZ region’s leading self-storage providers. At the last count it owned and operated 170 storage centres. From these centres it tailors self-storage solutions to tens of thousands of residential and commercial customers each year. Thanks to a combination of acquisitions and organic growth, National Storage has been growing its distribution at a solid rate in recent years. This means its units now offer an estimated forward distribution yield of 4.7%. I expect further growth over the coming years, especially now the housing market is rebounding.

Super Retail Group Ltd (ASX: SUL)

Another high yield dividend share to consider buying is Super Retail. It is the retail group behind chains such as Macpac, Rebel, and Super Cheap Auto. It has been a solid performer in recent years thanks to the popularity of its brands. And while FY 2020 looks set to be impacted by the bushfires, I believe the company is well-positioned for solid long term growth over the next decade. Its shares currently offer an estimated fully franked forward 5% dividend yield.

5 stocks under $5

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*Extreme Opportunities returns as of June 5th 2020

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Super Retail Group Limited. The Motley Fool Australia has recommended AVENTUS RE UNIT and National Storage REIT. 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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