With an average dividend yield of approximately 4%, the Australian share market is one of the most generous markets in the world.
But income investors don't need to settle for a 4% yield, as there are some quality dividend shares offering even greater yields.
Three high yield dividend shares I would buy this week are as follows:
Australia and New Zealand Banking Group (ASX: ANZ)
My favourite option in the banking sector right now would have to be ANZ. I believe it is the best option in the sector due to its overweight exposure to a solid performing business lending market, its vast cost saving opportunities, and low bad debts. In addition to this, the banking giant's shares offer investors a generous trailing fully franked 5.9% dividend yield.
Dicker Data Ltd (ASX: DDR)
This founder-led computer hardware and software distributor recently released its unaudited full year results and revealed revenue growth of 14.4% to $1,494 million and profit before tax growth of 15% to $46 million. This was ahead of both the market's expectations and the company's previous guidance and allowed its board to increase its full year dividend to 20.2 cents per share. This equates to a fully franked dividend yield of 6.6% based on the last close price. The good news is that I believe the strength of its business model and favourable tailwinds could mean further growth in FY 2019.
Super Retail Group Ltd (ASX: SUL)
Another high yield dividend share to consider buying is Super Retail. It is the retail group behind brands such as Super Cheap Auto, Macpac, and Rebel. Earlier this month the retailer released its half year results which revealed an 8.9% increase in normalised net profit after tax to $81.6 million. It also declared an interim dividend of 21.5 cents per share, which was in line with the same period last year and means that Super Retail's shares currently offer a trailing fully franked 6.2% yield.
