In the last 12 months a number of quality dividend shares have fallen significantly.
Whilst this is no doubt disappointing for existing shareholders, I believe it has created an opportunity for the rest of us to snap up some bargains.
Three dividend shares which I think could be bargain buys today are listed below:
The Ardent Leisure Group (ASX: AAD) share price is down around 28% from its 52-week high of $2.97. This means that the entertainment company's shares now provide a trailing unfranked 3.5% dividend. Whilst this isn't the biggest yield on the market, I believe that the expansion of its Main Event business in the United States could put the company in a position to grow its earnings and dividend significantly in the future.
The Premier Investments Limited (ASX: PMV) share price has fallen 12% since this time last year. At the current share price this retailer's shares provide a trailing fully franked 3.9% dividend. Much like Ardent Leisure, I expect this dividend to grow at a quick pace thanks to the expansion of its Smiggle brand overseas. By the end of calendar year 2019 management expects Smiggle to generate over $200 million in annual sales from the UK market alone. The brand recently delivered global half-year sales of $134.7 million.
The Telstra Corporation Ltd (ASX: TLS) share price has lost 17.5% of its value since this time last year. This means the telco giant's shares now provide a trailing fully franked 7% dividend, which I think makes it one of the best dividends on the Australian share market. While there are concerns over increased competition, I believe cost-savings, its market-leading position, and exceptional network give it the edge of its rivals. I expect this to allow Telstra to grow earnings and its dividend at a steady rate for the foreseeable future.
