But despite the S&P/ASX 200 Index (ASX: XJO) falling 17.99% lower in 2020, there are still some strong defensive buys.
Let’s take a look at a few of my top dividend shares to buy and beat the bear market today.
3 defensive ASX dividend shares to buy today
One of the most obvious defensive ASX buys right now is Coles Group Ltd (ASX: COL). The Coles share price is up a tidy 25.28% so far this year.
Sales have been strong thanks to panic buying and general re-stocking of supplies. While there are signs some restrictions are being lifted, I think Coles earnings will be steady for the remainder of 2020.
That’s good news for shareholders and could make Coles a solid defensive buy. The ASX dividend share is yielding 2.71% right now and could be one to beat the bear market.
I’d put AGL Energy Ltd (ASX: AGL) in a similar basket to Coles. The AGL share price has been hammered alongside most of its Energy sector peers.
However, isolation doesn’t mean we have lower electricity needs. Sure, business customers will have lower consumption for the moment. But with restrictions beginning to be rolled back, the lights may be back on in CBDs around the country in no time.
AGL is a top ASX dividend share that is yielding 6.54% right now. That payout may be reduced later this year, but I still think it’s a solid option for the long-term.
Finally, I like the look of Northern Star Resources Ltd (ASX: NST). The Aussie gold miner is a strong ASX dividend share with a 1.17% dividend yield.
Investors are flocking to gold shares thanks to the perceived safety of the precious metal. I’m not personally a big buyer, but I think they’re a good defensive ASX dividend share in 2020.
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Returns As of 6th October 2020
Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET. 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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