Dividends are one of the most pleasing aspects about investing in shares. It's so satisfying to do no work for the companies you own, yet receive a dividend every six months.
Not only that, but the income on offer from many ASX shares is a lot higher than you could possibly get from all the various bank accounts that are out there. Even the best ones only offer an interest rate of around 2.8% to 3%.
So, to solve that income dilemma, here are two good income shares on the ASX:
Magellan Global Trust (ASX: MGG)
This is a listed investment trust (LIT) that aims to pay a distribution yield of 4% of its underlying value each year.
If its underlying portfolio grows nicely then the distribution should grow at a good rate too.
It aims to invest in the highest quality businesses in the world, away from the ASX. Some of its top holdings include Apple, Facebook, Alphabet (Google), Visa and MasterCard.
I also like that it holds a safe level of cash, reported at around 20% of the portfolio last month, which means it has protection on market downturns and ammunition to take advantage of opportunities.
National Storage REIT (ASX: NSR)
National Storage currently has a distribution yield of 5.6%.
It's a real estate investment trust (REIT) that is the largest owner of self-storage facilities in Australia and New Zealand.
Storage facilities have grown in popularity thanks to Australia's rampant property prices. It has made the value proposition of a storage unit much better than spending tens of thousands to own a garage or an extra bedroom for storage.
The rising real estate prices has also allowed National Storage to increase its charge per metre at a good rate over the past few years.
Foolish takeaway
Despite the high fees I think Magellan Global Trust has proven it can beat the market after fees whilst also paying a good distribution along the way. It would be my pick of the two at the current prices.
