Whilst I think Westpac Banking Corp (ASX: WBC) and the banks are trading at attractive levels right now, given the scandals that keep popping up, I can understand why some investors don't want to buy their shares.
So for those investors, here are three top non-bank dividend shares that I would buy today:
National Storage REIT (ASX: NSR)
National Storage is one of the largest self-storage providers in Australia and New Zealand with 168 centres providing tailored storage solutions to over 60,000 residential and commercial customers. In FY 2019 the company was on form despite challenging economic conditions in some regions. I believe this demonstrates the strengthen and resilience of its business. So with the housing market now rebounding, I expect these trading conditions to improve greatly in 2020 and beyond. This year the company expects to grow its underlying earnings per security by greater than 4%. I feel this bodes well for its distribution, which already offers a generous yield of 5.1%.
Scentre Group (ASX: SCG)
Scentre Group is the property company behind the Westfield properties in the ANZ market. These are amongst the most popular retail properties in the region and continue to attract more and more consumers through their doors. As of the end of September, Scentre had recorded over 535 million customer visits on a 12 months basis. Unsurprisingly, this means its centres are very popular with retailers as well, leading to 99.3% of its portfolio being leased. I'm confident this trend will continue for the foreseeable future, putting Scentre in a good position to grow its distribution at a modest rate in the coming years. At present its units offer a trailing 5.8% distribution yield.
Sydney Airport Holdings Pty Ltd (ASX: SYD)
Another ASX dividend share to consider buying ahead of the banks is Sydney Airport. The airport operator welcomed 21.6 million passengers through its gates during the first half of FY 2019. Whilst this was a slight decline (due to weaker domestic passenger numbers), it didn't stop Sydney Airport posting a 3.4% increase in revenue. So with domestic passenger numbers rebounding since the election and international tourism remaining solid, I believe it is well-placed for growth in the second half and in FY 2020. This year Sydney Airport intends to pay a 39 cents per share dividend, which equates to a 4.4% dividend yield.
