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2 ASX dividend shares with 6%+ yields

man carrying large dollar sign on his back representing high P/E ratio or dividend
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Last year the cash rate was taken down to a record low of just 0.1%. Unfortunately for income investors, the market is currently pricing in a 75% probability of a cut to zero next month.

If this happens, it is going to make it even harder for income investors to generate a sufficient income from term deposits and savings accounts.

Fortunately, in this low interest rate environment, the Australian share market is home to dividend shares that offer investors generous yields.

Two ASX shares dividend shares with generous forecast yields are listed below. Here’s what you need to know about them:

Aventus Group (ASX: AVN)

Aventus is the owner and operator of 20 large format retail parks across Australia. It counts major retailers such as ALDI, Bunnings, Officeworks, and The Good Guys as tenants.

Not only has this led to high occupancy levels, these tenancies give the company’s centres a high weighting towards everyday needs. This has been a real strength during the pandemic and allowed Aventus to collect the majority of its rent as normal in FY 2020.

According to a note out of Macquarie, its analysts are positive on the company and expect it to pay a 16.7 cents per share dividend in FY 2021. Based on the latest Aventus share price, this represents a forward 6.2% dividend yield.

Westpac Banking Corp (ASX: WBC)

Another dividend share to look at is Westpac. Although the banking giant has recovered strongly from its COVID lows, its shares are still expected to provide a very attractive dividend yield in FY 2021.

According to a note out of Citi, now APRA has removed its dividend restrictions on the sector, it is forecasting a $1.30 per share fully franked dividend this year. Based on the latest Westpac share price, this represents a 6.3% yield.

The broker believes that the worst is over for the banks and feels net interest margins have now bottomed. Westpac remains its number one pick in the sector and it has put a buy rating and $26.00 price target on its shares.

Where to invest $1,000 right now

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.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of February 15th 2021

Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia has recommended AVENTUS RE UNIT. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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