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Why I would buy NAB and these generous ASX dividend shares

Last week’s market selloff was very disappointing for investors. However, one small positive was that it has pulled down a number of popular dividend shares to attractive levels.

Three dividend shares with generous yields to consider buying this week are listed below. Here’s why I like them:

Aventus Group (ASX: AVN)

Aventus is a fully integrated owner, manager and developer of large format retail centres. It has been a positive performer in FY 2020 and is on course to deliver modest income and distribution growth. In respect to the latter, the Aventus board 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 6% 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 Australia Bank Ltd (ASX: NAB)

This banking giant’s shares already offered a decent yield. But I think last week’s pullback has made its yield even more attractive for income investors. Especially given NAB’s improving outlook thanks to a rebounding housing market and its overweight exposure to the SME market. Another positive was its stronger than expected first quarter update last month. I expect NAB to pay a $1.66 per share fully franked dividend, which equates to a dividend yield of 6.6%.

Super Retail Group Ltd (ASX: SUL)

A final dividend share to consider buying this week is Super Retail. It is the retail group behind popular chains such as Macpac, Rebel, and Super Cheap Auto. It has been growing at a solid rate over the last few years thanks to the popularity of its numerous brands with consumers. And although Super Retail’s performance in FY 2020 has been negatively impacted by the bushfires, I expect its growth to accelerate again next year once conditions return to normal. For now, Super Retail’s shares offer a trailing fully franked 6% dividend yield.

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