If you're wanting to increase your income with some dividend shares, then the two listed below could be worth a closer look.
Both dividend shares are expected to provide investors with attractive yields in the near term. Here's what you need to know about them:
Rural Funds Group (ASX: RFF)
The first ASX dividend share to look at is Rural Funds.
It is an Australian agricultural property company with a portfolio of high quality assets that are leased to some of the biggest players in the sector such as Treasury Wine Estates Ltd (ASX: TWE).
Thanks to long leases and periodic rental increases, the company has been increasing its dividend at a solid rate for many years. This saw Rural Funds lift its distribution by its annual target rate of 4% in FY 2022 to 11.73 cents per share.
Pleasingly, management expects to do the same again in FY 2023 and is forecasting a 12.2 cents per share dividend. Based on the current Rural Funds share price of $2.55, this represents a yield of 4.8%.
Vanguard Australian Shares High Yield ETF (ASX: VHY)
Another option for income investors to consider is actually an exchange traded fund (ETF).
As its name implies, the Vanguard Australian Shares High Yield ETF provides investors with exposure to companies that have higher than average forecast dividends.
In addition, the fund manager ensures that the ETF is diversified and not simply filled with banks. It restricts the proportion invested in any one industry to 40% of the total ETF and 10% for any one company.
Among the companies included in the fund are the big four banks and mining giants such as BHP Group Ltd (ASX: BHP).
At present, the Vanguard Australian Shares High Yield ETF trades with an estimated forward dividend yield of 5.9%.
