I continue to believe that National Australia Bank Ltd (ASX: NAB) and the rest of the big four banks are great options for income options right now due to their generous yields in this low interest rate environment.
However, if you're not a fan of the banks or have enough exposure to the sector already, then these top dividend shares could be great alternatives. Here's why I like them:
Accent Group Ltd (ASX: AX1)
One good alternative could be this footwear-focused retailer. I'm a big fan of Accent due to its generous dividend yield and positive growth outlook. After posting a 22.2% jump in statutory net profit after tax to a record of $53.9 million in FY 2019, it appears well-placed for further growth in FY 2020 following a positive start to the financial year. At present its shares offer a trailing fully franked 5% dividend yield.
Stockland Corporation Ltd (ASX: SGP)
Another option is this diversified Australian property company. In FY 2019 Stockland reported a 4% increase in funds from operations (FFO), which allowed its board to increase its distribution to 27.6 cents per unit. And although the new financial year is expected to be challenging due to low wage growth and softening economic conditions, the market continues to forecast a small increase in its distribution to 27.8 cents per unit. This works out to be a forward 6.15% distribution yield.
Telstra Corporation Ltd (ASX: TLS)
This telco giant could be a good option for income investors now that the end of the NBN rollout is in sight, competition in the industry has become more rational, and due to its leadership position in 5G. Another positive is that I remain confident that its dividend has now been cut down to a level that can be maintained through its free cash flow. At present Telstra's shares offer investors a fully franked 4.5% dividend yield.
