Although the Australia and New Zealand Banking Group (ASX: ANZ) share price has fallen to a reasonably attractive level, until the impact of the bank levy is fully understood I would suggest investors stay clear of it.
In the meantime investors in search of quality dividend shares might want to consider these three:
Event Hospitality and Entertainment Ltd (ASX: EVT)
As well as its eponymous cinema chain, Event is the company behind accommodation brands such as Rydges, QT, and Thredbo Alpine Village. Thanks to the tourism boom that Australia continues to experience I believe Event is in a great position to grow its earnings and dividend at an above-average rate for some time to come. With its shares down 11% in the last 12 months and providing a trailing fully franked trailing 3.9% dividend, I think now could be an opportune time to snap up shares.
Suncorp Group Ltd (ASX: SUN)
This leading insurer's shares certainly have been on a tear in the last few months. Although they are close to a two-year high now, they still provide a generous trailing fully franked 4.9% dividend. I believe this makes Suncorp a great option for income investors, especially with its new operating model providing solid results thus far. The One Suncorp strategy helped the insurer deliver an underlying insurance trading ratio of 11% during the first-half of FY 2017. Pleasingly management expects this profitability measure to continue to increase.
Telstra Corporation Ltd (ASX: TLS)
Although Telstra's shares are no longer as dirt cheap as they were at the start of the month, they are still great value in my opinion. Especially as they provide investors with a massive trailing fully franked 6.9% dividend. While the launch of a fourth mobile network by TPG Telecom Ltd (ASX: TPM) could be a threat, I continue to believe that the more value-orientated mobile phone providers like Optus and Vodafone, are the ones that will be impacted the most.
