Although I think the Westpac Banking Corp (ASX: WBC) dividend is one of the more attractive on the local share market, not all investors are keen on the banks right now.
So for those investors I've picked out three dividend shares which I think would be great alternatives to Westpac and the rest of the big four banks.
Here they are:
G8 Education Ltd (ASX: GEM)
I think the recent acquisition of a quality portfolio of childcare and early education centres at a great price has been a big win for the company and should put it in a strong position to deliver a solid increase in earnings in FY 2018. So with its shares changing hands at approximately 17x trailing earnings and providing a trailing fully franked 5.8% dividend, I see a lot of value in its shares today.
Greencross Limited (ASX: GXL)
With its shares down 22% this year and hovering just above their 52-week low, I believe now could be a good time to consider an investment in this integrated pet care company. Especially as they currently trade at 14x trailing earnings and offer a trailing fully franked 3.6% dividend. Whilst FY 2017 wasn't the strongest, I feel confident that the expansion of its in-store clinic strategy will result in a notable improvement in its performance in FY 2018.
WAM Capital Limited (ASX: WAM)
Thanks to the continued outperformance of its funds, this listed investment company has been able to increases its dividend eight years in a row. Judging by its strong performance so far this year, I suspect an ninth successive dividend increase could be around the corner. At present WAM Capital's shares provide a trailing fully franked 5.9% dividend, and its final dividend goes ex-dividend on October 17.
