One positive take on yesterday's market meltdown is that it has made a number of quality dividend shares cheaper.
Three which I think are attractive after yesterday's decline are listed below. Here's why I like them:
BHP Billiton Limited (ASX: BHP)
This mining giant's shares fell almost 3% on Tuesday, meaning they now provide investors with a trailing fully franked 3.6% dividend. However, considering the strength of the global economy and demand for commodities, I believe BHP Billiton will be in a position to increase its dividend meaningfully in FY 2018. In light of this, I think the diversified miner could be one of the best options in the share market right now.
Greencross Limited (ASX: GXL)
This integrated pet care company tumbled over 5% lower yesterday during the market sell-off. This means Greencross' shares are now changing hands at a little over 16x trailing earnings and provide a trailing 3.2% dividend. I think this makes Greencross very appealing given the early success it has had with its in-store clinic roll out. In-store clinics are currently found in 17% of its retail stores, but management is targeting over 60% in the future. I believe this could help the company grow its bottom line at a solid rate over the coming years.
Telstra Corporation Ltd (ASX: TLS)
Not even this telco giant could escape the market meltdown on Tuesday. Telstra's shares finished the day down over 3% to $3.51. Based on its proposed 22 cents per share dividend in FY 2018, Telstra's shares will provide a fully franked 6.3% yield over the next 12 months. This smashes anything on offer from term deposits and savings accounts. Furthermore, I remain confident that the company is in a position to maintain this dividend in FY 2019 as well. I think this makes it well worth considering today.
