As expected the Reserve Bank held the cash rate at its record low of 1.5% this week.
While this is great news for borrowers, it isn't for savers. And unfortunately most economists don't believe there will be a rate rise for at least a year, which means the paltry interest rates on offer from savings accounts are here to stay.
But don't worry because the Australian share market has a number of high yield dividend shares to save the day.
Three which I think are worth considering today are as follows:
Accent Group Ltd (ASX: AX1)
The shares of Accent Group, formerly known as RCG Corporation, are priced at just a little over 12x trailing earnings and provide investors with a generous trailing fully franked 6.5% dividend. I think this is a perfect mix of value and income and would suggest investors consider snapping up shares today. Although Amazon is being touted as a threat, it is worth remembering that a good portion of its revenue is generated from its licensed brands.
Dicker Data Ltd (ASX: DDR)
This founder led wholesale distributor of computer hardware and software would have to be one of my favourite dividend shares on the local market. Thanks to its industry leading position and the rise of cloud computing, I believe Dicker Data will be able to continue growing its bottom line and dividend at a solid rate for some time to come. Its shares currently provide a trailing fully franked 5.5% dividend.
Telstra Corporation Ltd (ASX: TLS)
Another top share which I think provides both value and income is Telstra. Its shares currently change hands at under 11x trailing earnings and management plans to pay a fully franked 22 cents per share dividend in FY 2018. This equates to a fully franked 6% yield at today's share price, making it one of the more generous blue-chip dividend shares on the market.
