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3 strong ASX dividend shares with fully franked yields

Receiving investment income from ASX dividend shares is a wondrous thing. But it’s even better when those dividends come with full franking credits. With the benefits of franking, the real yield you receive can be a lot more beneficial to your finances that just the cash payment alone.

So with that in mind, here are 3 ASX dividend shares that come with full franking credits. And don’t worry, these 3 shares will actually pay dividends in 2020, in my opinion.

Woolworths Group Ltd (ASX: WOW)

Woolworths is a company that was the face of the coronavirus pandemic for a few weeks in March and April. It’s fair to say the record levels of panic buying we saw during this time were pretty healthy for Woolworths’ bottom line. As such, I think this is a company that will be easily able to afford its dividend payments in 2020. And historically, these come with full franking credits.

On current prices, Woolworths shares are offering a trailing yield of 2.98% – which grosses-up to 4.26% including franking.

Telstra Corporation Ltd (ASX: TLS)

Telstra is another dividend share to consider in 2020. This telco giant should also be able to weather the COVID-19 storm reasonably well. With large numbers of Australians working remotely, our home internet use is likely to have exploded over the past few months.

Although the economic shutdowns have impeded the T22 cost-cutting plan Telstra has been working on, I still think this company will be a healthy dividend-payer this year and beyond. On current prices, Telstra shares are offering up a dividend yield of 5.01% – based on the company’s previous 12 months of payouts at 16 cents per share. When you include the benefits of full franking, this yield grosses-up to 7.16%.

Medibank Private Ltd (ASX: MPL)

Medibank is our final dividend pick today. This company is Australia’s largest private health insurer, despite it only being listed on the ASX since 2014. Since then, Medibank has amassed a pretty solid track record of dividend payments, delivering shareholders a dividend pay rise every year.

Medibank has already paid its interim dividend for 2020, which was paid in March, but I don’t see any reason why Medibank won’t be able to keep the streak alive later this year. The private health business has felt some impacts from the coronavirus, but they shouldn’t be enough to seriously dent this company’s finances in my view. On current pricing, Medibank shares are offering a 4.63% yield – which grosses-up to 6.6% with the company’s full franking credits.

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Motley Fool contributor Sebastian Bowen owns shares of Telstra Limited. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia owns shares of Woolworths 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.