With term deposits and savings accounts offering just paltry interest rates, I think investors would be better served with an investment in one of the many high-yielding dividend shares on the Australian share market.
Three shares which would be at the top of my shopping list in April are as follows:
ASX Ltd (ASX: ASX)
One key reason I like the operator of the Australian stock exchange is its near-monopoly status. This has allowed the company to successfully grow its bottom line each year for the last five years. Following a solid first-half, I expect another year of growth ahead for both its earnings and its dividend. At present ASX's shares provide a trailing fully franked 4.1% dividend.
Event Hospitality and Entertainment Ltd (ASX: EVT)
At the current share price Event provides investors with a trailing fully franked 4.2% dividend. Thanks to the tailwinds of the Australian tourism boom, I believe the company is positioned perfectly for growth thanks to its popular entertainment and accommodation brands such as Event Cinema, Rydges, and Thredbo Alpine Resort. With its shares down 20% in the last 12 months, I think now could be an opportune time to make a buy and hold investment.
Sigma Pharmaceutical Limited (ASX: SIP)
Sigma is the company behind pharmacy chain brands such as Amcal, Chemist King, and Guardian. Last week the company reported a 13% jump in full-year underlying net profit after tax to $66.9 million. Despite its shares rallying after the result, they are still changing hands at 20x earnings and provide a trailing fully franked 4.5% dividend. I believe this makes it a great option for investors, especially with the progress it is making with its online store in China.
