This morning the Commonwealth Bank of Australia (ASX: CBA) share price is likely to open the day 2.5% lower after trading ex-dividend for the banking giant's $2.00 per share interim dividend.
This dividend will be paid to eligible shareholders on March 28. While some shareholders may use this as a source of income to live from, others may wish to reinvest the funds back into the share market.
For the latter group of shareholders, here are three shares that I would consider reinvesting the funds into:
Aristocrat Leisure Limited (ASX: ALL)
This leading gaming technology company's shares are currently changing hands at around 18x estimated FY 2019 earnings. I think this makes its shares great value given its current growth profile. As well as being a market leader in pokie machine design and manufacturing, the company has moved into the rapidly growing social and digital gaming market. It is still early days but I've been very impressed with its progress. At the last count the company had 8.1 million daily active users generating sizeable recurring revenues.
Helloworld Travel Ltd (ASX: HLO)
I think that Helloworld Travel shares offer a great combination of value, income, and growth. This year the integrated travel company is expected to deliver earnings growth in the range of 16.5% and 23%. If it delivers on its guidance I believe it will put the Helloworld board in a position to increase its dividend materially. At present its shares provide a trailing fully franked 2.7% yield and are changing hands at ~17.5x estimated forward earnings.
National Storage REIT (ASX: NSR)
If you want to generate more income then this real estate investment trust's units could be well worth considering. At present the self-storage provider's units offer a trailing 5% distribution yield. I believe the company's hefty cash balance, its growth through acquisition strategy, and increasing demand from downsizing and third party logistics companies has put it in a position to grow its distribution at a solid pace over the coming years.
