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3 top ASX dividend shares I would buy today

The latest Westpac Banking Corp (ASX: WBC) Weekly economic report reveals that the banking giant continues to expect the cash rate to be cut down to 0.25% by August.

If this proves accurate then income investors will soon be contending with even lower interest rates. This could make it near impossible to earn a sufficient income from traditional interest-bearing assets.

The good news is that these ASX dividend shares can help you beat the cuts:

Aventus Group (ASX: AVN)

Aventus is the largest fully integrated owner, manager and developer of large format retail parks in Australia. It owns 20 retail centres across the country and counts many of the biggest retailers in the nation as its tenants. This includes the likes of Bunnings, The Good Guys, and Officeworks. The popularity of its centres with consumers has led to strong demand for tenancies and supported a high occupancy rates. I believe this has positioned Aventus well for growth over the coming years. At present, I estimate that its shares offer a forward 5.6% distribution yield.

Super Retail Group Ltd (ASX: SUL)

Another dividend share to consider buying is Super Retail. It is the retail group behind chains such as Macpac, Rebel, and Super Cheap Auto. Last week it released its half year results and revealed sales growth despite the challenging environment from the bushfires and general weakness in the retail sector. First half group sales increased 2.9% to $1.44 billion, with like-for-like sales growth across its network improving by 1.7%. This allowed the company to hold its interim dividend steady at 21.5 cents per share. Based on this, I estimate that its shares offer a forward fully franked 5% yield.

Transurban Group (ASX: TCL)

A final dividend share to consider buying this week is Transurban. This month the toll road operator released its half year result and revealed that its positive form has continued in FY 2020. During the first half of FY 2020, Transurban reported a 2.3% increase in average daily traffic on its roads. Combined with toll price increases, this led to the company’s proportional toll revenue increasing by a sizeable 8.6% to $1,396 million. This has allowed the Transurban board to reaffirm its FY 2020 distribution guidance of 62 cents per share, which equates to a 3.8% distribution yield.

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Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of and has recommended Transurban Group. The Motley Fool Australia owns shares of Super Retail Group Limited. The Motley Fool Australia has recommended AVENTUS RE UNIT. 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.