The average dividend yield on the All Ordinaries index currently stands at 4%, making it one of the most generous indices 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 next week are as follows:
Aventus Retail Property Fund (ASX: AVN)
Aventus is a retail property fund focused on large format retail (LFR) centres with high quality tenants such as Harvey Norman Holdings Limited (ASX: HVN) and Nick Scali Limited (ASX: NCK). In the first half of FY 2019 the company delivered funds from operations of $47 million, up 6.3% on the prior corresponding period. This was driven by sustained high occupancy levels and a 3.3% increase in like for like net property income. Aventus' units currently offer a trailing 7.3% distribution.
BHP Group Ltd (ASX: BHP)
I think that BHP is a great option for investors looking to diversify their portfolio with a little exposure to the resources sector. Thanks to its strong balance sheet and low-cost operations across iron ore, coal, petroleum and copper, I believe it is well-positioned to deliver strong free cash flows over the coming years. I expect the majority of these funds to be returned to shareholders in the form of dividends and share buybacks. At present its shares provide an estimated forward fully franked 5.9% dividend.
National Australia Bank Ltd (ASX: NAB)
Whilst the banks have risen strongly over the last 10 weeks, I don't believe it is too late for income investors to snap up their shares. One of my favourites right now is NAB due to its high yield and overweight exposure to a commercial lending market which is performing well. At present NAB's shares offer a massive trailing fully franked 7.8% dividend.
