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3 safe and high yield ASX dividend shares to buy right now

If you’re looking to add some income options to your portfolio, then the three ASX dividend shares listed below could be top options.

I believe each is positioned to continue paying dividends despite the coronavirus pandemic.

Here’s why I think these shares would be great options for income investors:

Commonwealth Bank of Australia (ASX: CBA)

If you’re not averse to investing in the big four banks, then Commonwealth Bank could be worth considering. I think it is the highest quality bank Australia has to offer and trading at an attractive level following a sharp share price decline. And while trading conditions are admittedly difficult in the banking sector, I believe this has been priced into its shares. I expect the bank to cut its dividend to ~$3.80 per share in FY 2021, which equates to a forward fully franked 6.1% dividend yield. 

Telstra Corporation Ltd (ASX: TLS)

Another share for income investors to consider snapping up is Telstra. The telco giant has had a tough few years but appears well-placed for a return to growth in the not so distant future. This is thanks to its significant cost cutting plans, the near completion of the NBN rollout, the arrival of 5G internet, and improving trading conditions. As a result of this, I am optimistic the dividend cuts are over and 16 cents per share could be the bottom. This equates to a fully franked 5.1% dividend yield.

Vanguard Australian Shares High Yield ETF (ASX: VHY)

A final option for income investors to consider buying is the Vanguard Australian Shares High Yield ETF. This exchange traded fund provides investors with exposure to a large number of dividend paying shares. The majority of which are the highest yielding shares on the ASX. This diverse group includes the big four banks, mining giants, and telcos. At present I estimate that its units provide a forward dividend yield of at least 5%.

These 3 stocks could be the next big movers in 2020

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

*Returns as of 6/8/2020

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. 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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