ASX dividend shares have had a rollercoaster start to the year. Some of the biggest names in the S&P/ASX 200 Index (ASX: XJO) have slumped lower and dividend yields have surged.
Here are my top ASX dividend share picks for May given the current environment.
3 ASX dividend shares to buy today
It's hard to look past CSL Limited (ASX: CSL) right now. The CSL share price continues to climb higher despite market conditions and is showing no signs of slowing down.
The Aussie biotech company has a strong research and development pipeline and significant market share. With a decent-sized business 'moat', or competitive advantage, I think CSL is still a long-term buy.
CSL is an ASX dividend share with a 0.98% dividend yield right now. While that's not the highest-yielding amongst the ASX 200, it could be a strong defensive buy for income.
I also like the look of Woolworths Group Ltd (ASX: WOW) as an ASX dividend share right now. Woolworths shares have fallen lower in 2020 but are still outperforming the benchmark index.
Woolworths is worth $43.5 billion at the time of writing and has a 2.99% dividend yield. With the uncertainty in the markets right now, I think Woolworths could be a decent buy. Despite a struggling pubs business, I like the looks of the other areas of the business in 2020.
Finally, I think Fortescue Metals Group Limited (ASX: FMG) is among the top ASX dividend shares right now. Fortescue shares are yielding a whopping 9.11% as it stands at the time of writing.
Granted, the Fortescue share price was battered on Friday and fell 8.19% lower. However, shares in the iron ore giant are trading at a price to earnings (P/E) ratio of just 4.40 times today.
That seems like good value for money in my view, even if there are some short-term headwinds for the mining sector.
Foolish takeaway
These are just a few of my top ASX dividend shares to buy right now. There's no guarantee that these dividend payouts will remain unchanged in 2020, but I believe they all look like solid ASX 200 companies despite the current environment.
