While I continue to believe that Westpac Banking Corp (ASX: WBC) is a great option for income investors, a lot of investors' portfolios may already be overweight with the banks.
If this sounds like your portfolio then perhaps the high-yielding dividend alternatives listed below might be better options for you. They are as follows:
Mantra Group Ltd (ASX: MTR)
Although this leading accommodation provider's shares have stormed higher today after announcing plans to acquire the Art Series hotel chain for $52.5 million, they still provide investors with a solid trailing fully franked 3.7% dividend. I believe this dividend has significant long-term growth potential thanks largely to the tourism boom that Australia is experiencing. I expect strong demand for hotel rooms will result in above-average earnings growth for Mantra over the next decade.
Super Retail Group Ltd (ASX: SUL)
The shares of the company behind well-known retail brands such as Supercheap Auto and Rebel Sport are changing hands at just 13x trailing earnings and provide a generous trailing fully franked 5% dividend. I believe this makes them great value for money and provides investors with a compelling risk/reward. While Amazon does pose a threat to its business, I do believe the company is better placed than its peers to fight back.
WAM Capital Limited (ASX: WAM)
Due to the strong performance of WAM's funds, this listed investment company has been in a position to increase its dividend for an impressive seven consecutive years. Judging by its performance so far this year, I wouldn't be at all surprised to see the company make it eight years in a row. So with its shares already providing a trailing fully franked 6.1% dividend, now could be an opportune time to invest.
