Later today eligible shareholders of National Australia Bank Ltd (ASX: NAB) will receive the bank's fully franked final 99 cents per share dividend in their accounts.
While some shareholders will use this as income to live from or take advantage of the bank's dividend reinvestment program, others may wish to reinvest it back into the share market.
Here are three shares that I would consider reinvesting these funds into:
Appen Ltd (ASX: APX)
If you're looking at investing the funds into growth shares then I think Appen would be a great option. It is a global leader in the development of high-quality, human annotated datasets for machine learning and artificial intelligence. Both these markets are expected to grow at an explosive rate over the next decade, putting Appen in a great position to continue its impressive earnings growth.
Helloworld Travel Ltd (ASX: HLO)
I think HelloWorld Travel would be a great option for investors that are looking for a mix of growth and income. This year the integrated travel company expects to build on FY 2018's impressive result with year on year earnings growth in the range of 16.5% and 23%. I believe this puts the company in a great position to grow its dividend which currently offers a trailing fully franked 3% yield.
Super Retail Group Ltd (ASX: SUL)
Investors that are in search of more dividends might want to consider Super Retail Group. I think the retail group's shares are a great option for income investors after a sharp pullback over the last couple of months. This pullback means its shares are currently changing hands at just 10x earnings and offer a very generous 6.7% dividend yield. Pleasingly, all its brands have generated solid like for like sales growth so far in FY 2019.
