Although the Reserve Bank's rate cuts have been great for borrowers, it is a very different story for savers and income investors.
And with rates widely expected to go lower in again in 2020, it doesn't look likely to get easier for them any time soon.
Luckily, the Australian share market is home to a large number of shares that pay generous dividends. Three which I would buy today are listed below:
Accent Group Ltd (ASX: AX1)
Accent Group is the retail group behind footwear-focused retail chains such as Athlete's Foot, HYPE DC, and Platypus. It also has the exclusive rights to a number of popular global footwear brands in the Australian market. Due to the popularity of these brands, its growing footprint, and strong online growth, Accent Group has continued to deliver solid earnings and dividend growth over the last few years. This is despite the tough trading conditions in the retail sector. I'm confident there will be more of the same in FY 2020 and beyond, allowing Accent to lift its dividend again. At present its shares offer a trailing fully franked 4.8% dividend yield.
Stockland Corporation Ltd (ASX: SGP)
Stockland could be a great option for income investors. It is a diversified property company which owns, manages and develops a diverse range of property assets. It recently announced an estimated distribution for the six months to December 31 of 13.5 cents per security. This puts Stockland on course to deliver on its distribution guidance of 27.6 cents per security for FY 2020. Based on this, its shares currently provide investors with a forward 5.8% distribution yield.
VanEck Vectors Australian Banks ETF (ASX: MVB)
Given all the drama we are seeing in the banking sector right now, it can be hard to decide which bank to buy over the others. The good news is that the VanEck Vectors Australian Banks ETF solves this problem by providing you with a little exposure to all of them. This includes the big four banks, the regional banks, and investment bank Macquarie Group Ltd (ASX: MQG). Its units currently provide a trailing 5% dividend yield.
