Tonight the U.S. Federal Reserve will meet to decide on interest rates once again.
According to CME Group's Fedwatch Tool, the market has priced in a 94.4% probability that rates will rise to the 2% to 2.25% target range.
Unfortunately, it is unlikely that the Reserve Bank of Australia will follow suit when it meets to discuss the cash rate on Tuesday of next week.
In fact, most economists have ruled out a rate rise in Australia for the rest of the year and all of 2019.
Because of this, I think savers would be better skipping savings accounts and term deposits in favour of some of the top dividend shares on offer on the Australian share market.
Here are three to consider:
Dicker Data Ltd (ASX: DDR)
This founder-led computer software and hardware wholesale distributor is one of my favourite dividend shares on the ASX. Not only does it offer an extremely generous yield, but its strong business model and growth opportunities put it in a position to continue growing this over the coming years. This year the Dicker Data board intends to declare a total dividend of 18 cents per share, equating to a yield of 6%.
National Storage REIT (ASX: NSR)
I think National Storage is a high quality and low risk investment option for income investors to consider. The company's growing network of self-storage centres looks set to expand further in FY 2019 thanks to a recent $175 million equity raising. I expect this expansion and its high occupancy levels to put the company in a position to grow its distribution again in FY 2019. At present its shares offer a trailing 5.7% distribution yield.
Westpac Banking Corp (ASX: WBC)
I would much rather have my money invested in this banking giant's shares than in one of its high interest savings accounts. At present Westpac's shares offer a trailing fully franked 6.7% dividend. Due to its decision to lift its variable rates recently, I feel confident that this dividend will at least be maintained in FY 2019.
