If you're on the lookout for quality fully franked dividends then you're in luck. The Australian share market is home to a large number of quality options.
Three ASX dividend shares that offer generous fully franked dividends are listed below. Here's why I like them:
Accent Group Ltd (ASX: AX1)
Accent Group is a footwear-focused retail group which owns a number of popular retail store brands such as Athlete's Foot, HYPE DC, and Platypus. It has been a solid performer over the last couple of years despite tough trading conditions in the retail sector. I'm confident there will be more of the same this year, allowing the Accent board to lift its dividend again. Based on this, I estimate that its shares offer a forward fully franked 5.6% dividend yield.
Rio Tinto Limited (ASX: RIO)
If you're not averse to investing in the resources sector, then I think Rio Tinto would be worth considering. It owns a number of world class assets that are generating high levels of free cash flow. Pleasingly, I expect the majority of this free cash flow to be returned to shareholders through dividends in FY 2020. As a result, I estimate that its shares provide a forward fully franked 4.5% dividend yield.
Wesfarmers Ltd (ASX: WES)
Another dividend share to consider buying is Wesfarmers. I think the conglomerate could be a strong performer over the coming years thanks to the improving housing market. This is because its key Bunnings, Kmart, and Target brands all have exposure to the housing market. They could all benefit from increasing demand for home-related items and the general boost to consumer confidence that rising house prices brings. Another positive is the recent acquisition of Catch Group, which I think has a lot of potential. I estimate that Wesfarmers will pay a FY 2020 dividend of $1.53 per share, which equates to a fully franked 3.8% dividend yield.
