The big four banks are amongst the most popular investment options for income investors in Australia.
Earlier this week National Australia Bank Ltd. (ASX: NAB) paid its 99 cents per share fully franked final dividend to eligible shareholders.
These funds will no doubt have either found their way back into the share market or perhaps even helped with the Christmas shopping.
On Monday of next week it is the turn of Australia and New Zealand Banking Group (ASX: ANZ) to pay its final dividend.
A fully franked 80 cents per share will be paid to eligible shareholders, bringing its full-year dividend to $1.60. This will be the second successive year that ANZ Bank has paid a dividend of $1.60 per share.
After that, shareholders of Westpac Banking Corp (ASX: WBC) should expect to receive a fully franked 94 cents per share final dividend on December 22.
Finally, Commonwealth Bank of Australia (ASX: CBA) will pay its next dividend in April of next year. Australia's largest bank is out of sync with the other three as it operates with a financial year that ends on June 30 of each year, whereas the others' end on September 30.
Where should you reinvest these funds?
If you plan to reinvest these funds into the share market then I would consider growth shares such as Aristocrat Leisure Limited (ASX: ALL) and Nextdc Ltd (ASX: NXT).
For income shares, I feel Telstra Corporation Ltd (ASX: TLS) and Dicker Data Ltd (ASX: DDR) would be great options.
And finally, investors looking for bargain buys, I would consider Baby Bunting Group Ltd (ASX: BBN) and Super Retail Group Ltd (ASX: SUL). These shares offer a winning combination of value and income in my opinion.
