The good news for income investors in this low interest rate environment is that the Australian share market has a large number of shares offering generous dividend yields.
Three dividend shares that I think income investors ought to consider buying this week are listed below. Here's why I like them:
Aventus Retail Property Fund (ASX: AVN)
Aventus Retail Property Fund is Australia's largest fully integrated owner, manager, and developer of large format retail centres with a total of 20 centres across the country. It counts many of the largest retailers in Australia as tenants such as Bunnings, The Good Guys, and Officeworks. In the first half of FY 2019 Aventus posted a 6.3% increase in funds from operations to $47 million, allowing it to increase its distribution to 4.16 cents per unit. This means the property fund's units currently offer a trailing 7.2% yield, which is paid in quarterly instalments.
Coles Group Ltd (ASX: COL)
I think that this supermarket giant would be a great long term option for income investors due to its defensive qualities, solid growth prospects, and strong market position. When the company demerged from Wesfarmers Ltd (ASX: WES) it revealed it would pay out between 80% and 90% of its earnings to shareholders. Based on this guidance, I estimate that Coles shares currently offer investors a fully franked forward 5% dividend.
Sydney Airport Holdings Pty Ltd (ASX: SYD)
One of my favourite dividend shares on the Australian share market right now is the operator of Australia's busiest airport. I think the company is well-positioned for solid long term earnings and dividend growth thanks to the inbound and outbound tourism boom that Australia is experiencing and its status as the main gateway into the country. At present the airport operator's shares offer an attractive trailing 5.2% dividend.
