On Tuesday the Reserve Bank of Australia opted to keep rates on hold at the record low of 1.5% for yet another month.
And although the central bank has lifted its forecasts for economic growth, most economists are still ruling out a rate rise any time soon.
In light of this, I continue to believe that investors would be better off skipping savings accounts and term deposits in favour of the share market.
Three income shares that I would consider are listed below:
Dicker Data Ltd (ASX: DDR)
This leading computer software and hardware wholesale distributor could be a great option for income investors due to its robust business model, high levels of insider ownership, and generous dividend yield. Based on the 18 cents per share dividend that it intends to pay this year, Dicker Data's shares offer a fully franked 6.3% yield. Another bonus with Dicker Data is that it pays its dividend in quarterly instalments.
National Storage REIT (ASX: NSR)
National Storage is one of the largest storage providers in ANZ with a growing network of facilities. Due to its high occupancy levels, increasing demand, and growth through acquisition strategy, I believe the trust is well-positioned to continue increasing its distribution over the coming years. At present the company's units provide a trailing 5.7% distribution.
Super Retail Group Ltd (ASX: SUL)
Due to a post-annual general meeting selloff, this retail group's shares currently offer an extremely generous trailing 6.7% dividend. The reason for the selloff was the surprise retirement of its long-serving and popular CEO. While a change at the top can be disruptive, I believe the selloff has been severely overdone. Especially now its shares are priced at just 10x earnings and all its brands have delivered solid same stores sales growth so far in FY 2019.
