With the cash rate at a record low and being tipped to go even lower later this year, I think savers would be better off putting their money to work in the share market than leaving it to gather only paltry interest in a savings account.
Especially given the large number of quality dividend shares that offer yields which are vastly superior to anything you'll receive from savings accounts or term deposits.
Three dividend shares I would buy next week are listed below:
Accent Group Ltd (ASX: AX1)
I think this footwear-focused retail group would be a great option for income investors. Accent's shares have been strong performers in 2019 thanks to an impressive first half which saw the company post a 27.3% increase in net profit after tax to $32.2 million. This was driven by a combination of solid like for like sales growth and strong gross margin improvement. Despite its shares rising strongly this year, they still offer a trailing fully franked 5.7% dividend yield. Pleasingly, with management expecting second-half EBITDA to grow by 10%, there's a good chance its final dividend will be increased.
National Storage REIT (ASX: NSR)
Another top dividend share to consider is National Storage. It is one of Australasia's largest self-storage owner-operators with a network of 146 centres and a growing pipeline of acquisition and development opportunities. Thanks to a combination of robust demand and inorganic growth, I believe National Storage is well-positioned to grow its profits and distribution at a solid rate for the next few years. This year the REIT's board intends to pay a full year distribution of 9.6 cents to 9.9 cents per unit, which equates to a yield of between 5.6% to 5.8%.
Rural Funds Group (ASX: RFF)
This real estate property trust could be another dividend share to consider buying next week. As of its last update, Rural Funds owned a total of 49 properties across six agricultural sectors and multiple climactic zones. I'm a big fan of the trust due to its use of rental indexation and its long term leases. At present, the trust has a weighted average lease expiry of 11.4 years. I believe this has positioned the trust perfectly to achieve its target of distribution growth of at least 4% each year. In FY 2019 Rural Funds intends to pay a total distribution of 10.85 cents per unit, which equates to a yield of 4.9% at present.
