Although I think the Commonwealth Bank of Australia (ASX: CBA) dividend is a great option for income investors at the moment, I can completely understand why some investors aren't keen on buying bank shares.
So for those investors I've picked out three dividend shares that I think would be a great alternative to CBA. They are as follows:
Coles Group Ltd (ASX: COL)
I think this supermarket giant could be a good alternative to Commonwealth Bank. According to a note out of the Macquarie equities desk this month, its analysts expect Coles to pay a fully franked full year dividend of 65.7 cents per share. Based on its current share price, this equates to a forward 5.5% yield. I think this yield and its attractive valuation make it a share to consider right now.
Crown Resorts Ltd (ASX: CWN)
Another share that I think is worth considering is this casino and resorts operator. Although it has had a slow start to FY 2019, I think its long-term growth prospects are positive. Especially with the opening of Crown Sydney at Barangaroo around two years away. I believe this and the inbound tourism boom will lead to solid earnings and dividend growth. At present Crown's shares offer a trailing partially franked 5% dividend.
National Storage REIT (ASX: NSR)
National Storage is one of Australia's leading self-storage providers. Thanks to its growing network of centres and increasing demand for its services, I believe it is well positioned to grow its distribution at a solid rate over the coming years. In addition to this, the company recently raised $175 million. These funds will be used to reset its balance sheet, accelerate its acquisition and development pipeline, and position it for future growth opportunities. At present the company's units provide a trailing 5.25% distribution yield.
