At the current level, I think the Commonwealth Bank of Australia (ASX: CBA) share price is in the buy zone for income investors.
However, not everyone is comfortable investing in the banking sector at present due to the possible impacts of the pandemic on bad debts.
For those investors, I have picked out two ASX dividend shares which I think would be great alternatives. They are as follows:
Image Source: Commonwealth Bank
Aventus Group (ASX: AVN)
I think Aventus is an ASX dividend share to buy right now. This retail property company owns and operates 20 large format retail parks across Australia. These centres have a high weighting towards everyday needs, with major retailers such as ALDI, Bunnings, Officeworks, and The Good Guys among its 593 tenancies.
This has proven to be a very positive mix during the pandemic. While many other retail property companies are struggling to collect rent, Aventus was able to collect the vast majority of its rent as normal in FY 2020. This led to the company reporting a 4.2% increase in funds from operations (FFO) to $100 million. This allowed its board to declare an 11.9 cents per security full year distribution. Based on the current Aventus share price, this equates to a generous 5% yield.
Bravura Solutions Ltd (ASX: BVS)
Bravura Solutions isn't a company I would normally go to for dividends. However, a sizeable pullback in the Bravura share price means it now offers an attractive yield to investors. In FY 2020 the provider of software products and services to the wealth management and funds administration industries declared an 11 cents per share dividend. This currently equates to a 3% yield.
I think this makes it well worth considering, especially given its positive long term growth potential. This is thanks to the quality of its software and the significant market opportunity it has globally. Particularly given recent acquisitions which have opened the company up to new and lucrative markets.
