5 dividend shares for a rock solid portfolio

Blackmores Limited (ASX:BKL) is one of five dividend shares which I think could be fantastic options for income investors today.

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Unfortunately in this low interest environment investors in search of income can't rely on their savings account or term deposits to provide them with an adequate source of income.

Because of this I believe investors should look to the market for their income needs. But with some popular dividend shares such as Transurban Group (ASX: TCL) trading on increasingly higher multiples, there are concerns that a pull back in their respective share prices could occur.

For this reason I would suggest income investors avoid these shares and focus on building a portfolio around shares which provide good dividends at a fair price. The following five dividend shares could be strong candidates for an investment today in my opinion.

Blackmores Limited (ASX: BKL)

This health supplements company has grown its dividend by just under 20% per annum for the last 10 years according to CommSec. Thanks to the strong demand expected from the China market, I believe it will continue growing its dividend at a rapid clip for some time to come. In the year ahead its shares are expected to provide a fully franked 4.2% dividend.

Flight Centre Travel Group Ltd (ASX: FLT)

With this leading travel agent's shares down 15.5% in the last six months and changing hands at just 15x estimated FY 2017 earnings, I feel now could be a great time to load up on its shares. Especially considering they are expected to provide a fully franked 4.3% dividend in the year ahead.

Mantra Group Ltd (ASX: MTR)

I believe this leading accommodation provider can grow at a good rate over the next few years on the back of the Australian tourism boom. Currently its shares are expected to provide a fully franked 4.3% dividend in FY 2017.

Suncorp Group Ltd (ASX: SUN)

Thanks to its new operating model I'm optimistic Suncorp will turnaround its faltering performance and return to growth again in the year ahead. As one of the more generous dividend payers on the market, this could make it an opportune time to invest. Its shares are predicted to provide a fully franked 5.9% dividend in the next 12 months.

Telstra Corporation Ltd (ASX: TLS)

The telco giant's shares are currently only a fraction above their 52-week low. Whilst the days of gangbuster growth are long behind the company, I still expect it to be capable of growing its earnings in the low single-digits for years to come. So with its shares expected to provide a fully franked 6.2% dividend in FY 2017, now could be a great time to invest.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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 Bruce Jackson.

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