If you're on the lookout for income options on the Australian share market, then you're in luck.
Right now there are a large number of dividend shares offering generous yields in this low interest rate environment.
Three dividend shares that I would consider buying this week are listed below. Here's why I like them:
Stockland Corporation Ltd (ASX: SGP)
I think this diversified property company could be worth considering. Stockland is a developer and manager of properties including retirement villages, housing estates, and shopping centres. Although the company admittedly had a softer than expected first half to FY 2020, management appears confident that its earnings will be skewed to the second half. In light of this, it declared an interim distribution of 13.5 cents per share and reaffirmed its plan to pay a 27.6 cents per share full year distribution. This is the equivalent of a 5.3% yield.
Sydney Airport Holdings Pty Ltd (ASX: SYD)
Once the coronavirus situation eases, I think it would be worth picking up the shares of this airport operator. As the main gateway into Australia, I believe Sydney Airport is well-placed for growth over the next decade as tourism grows and more and more passengers pass through its gates. Another positive is its growing ancillary revenues which are supporting the growth of its core business. A recent pullback in its share price means that Sydney Airport's shares now offer an estimated forward 4.8% dividend yield.
Westpac Banking Corp (ASX: WBC)
A final dividend share to consider buying right now is Westpac. Its share price has fallen heavily over the last few months following its AML breaches. Whilst this is disappointing for shareholders, I believe it has created a buying opportunity for non-shareholders. Overall, I feel its shares offer a positive risk/reward for income investors that don't already have meaningful exposure to the banking sector. I estimate that they currently offer a fully franked forward 6.1% dividend yield.
