If you're currently in or approaching retirement, finding ways to boost your income would probably be at the top of your to-do list. And with the ASX lower recently thanks to ongoing market turmoil, dividend yields are looking more attractive.
Couple this with the recent further decline in interest rates and I would be considering these 3 ASX shares to buy for income today:
Rural Funds Group (ASX: RFF)
Rural Funds recently posted its first-half results for FY20 and to no surprise, showed an increase to its FY21 distribution. The company guided an FY21 distribution of 11.28 cents per share, in line with its stated 4% growth target. This puts Rural Funds shares on a forward dividend yield of 5.6%.
What I like about this dividend is that Rural Funds also announced this equated to a decrease in its payout ratio. This means that the dividend was more affordable to the company, leaving more funds left over for reinvestment and acquisitions.
Additionally, the diversified portfolio of farmland and orchards increased its weighted average lease expiry to 11.5 years. This further strengths Rural Funds' position to be able to continue paying dividends into the future.
WAM Leaders Ltd (ASX: WLE)
WAM Leaders recently announced that for the six months to December 31, it managed to outperform the S&P/ASX 200 Accumulation Index. This is a feat it has achieved since inception in May 2016.
WAM Leaders invests in some of the largest companies on the ASX, with three of its top holdings being Telstra Corporation Ltd (ASX: TLS), CSL Limited (ASX: CSL) and BHP Group Ltd (ASX: BHP).
The portfolio has a focus on capital preservation while targeting undervalued Australian companies. This is an investment thesis which is skewed towards companies within the S&P/ASX 200 Index (INDEXASX: XJO).
Recently increasing its interim dividend by 22.6%, WAM Leaders is set to pay a dividend of 3.25 cents per share to shareholders on the 28th of April. This represents an attractive annualised grossed-up dividend yield of 8.36%.
Transurban Group (ASX: TCL)
First listed on the ASX in 1996, Transurban has become one of the world's largest toll-road operators. It manages and develops urban toll road networks both here in Australia and in North America.
Transurban recently reported growth in average daily traffic and earnings before interest, tax, depreciation and amortisation (EBITDA) in its half-year FY20 results.
Additionally, the company showed a strong pipeline of projects for continued growth into the future. This pipeline includes its NorthConnex and new M5 and M5 East projects which are due for completion at the end of FY20.
With a declared interim dividend of 31 cents per share, Transurban shares currently offer an annualised dividend yield of 4.1%, partially franked.
