Dividends are very important at times like this.
Typically reliable shares like Commonwealth Bank of Australia (ASX: CBA), Transurban Group (ASX: TCL) and Sydney Airport Holdings Pty Ltd (ASX: SYD) are likely facing dividend cuts in 2020.
Whilst I'm trying to focus on the valuation discount side of things, the trailing dividend yields are looking very attractive.
Here are four ASX dividend shares that could be great for income investors in April and beyond:
APA Group (ASX: APA)
Using the 50 cents per unit distribution guidance, APA has a FY20 distribution yield of 4.8%.
APA Group owns a vast network of 15,000km of natural gas pipelines around Australia with a presence in every mainland state and the Northern Territory. It also owns or has interests in gas storage facilities, gas-fired power stations and renewable energy generation (wind and solar farms). It owns, or manages and operates, a portfolio of assets worth more than $21 billion and delivers half the nation's natural gas usage.
It has grown its distribution every year for around 15 years and this record could keep going during this period with its reliable cashflow. It continues to invest in future growth projects.
Brickworks Limited (ASX: BKW)
Brickworks just grew its dividend by 5% in the half-year result. It now has a grossed-up dividend yield of 6.2%.
How reliable is the Brickworks dividend? It has grown or maintained its dividend every year for over forty years. That's a great record.
Obviously these unique circumstances are causing disruptions across the economy. The construction industry hasn't escaped, though work is still ongoing in some areas. The building products division is going to be disrupted in 2020, but it could quickly make a recovery by the end of the year if life returns to normal.
At the moment Brickworks' market capitalisation is backed by the asset values of its industrial property trust and investments divisions.
WAM Global Limited (ASX: WGB)
WAM Global currently has an annualised grossed-up dividend yield of 4.8%.
Its share price has fallen 23% since 21 February 2020. Despite the today's 8.5% rise to $1.79 (at the time of writing), it's still trading at a discount of 18.6% to the net tangible assets (NTA) at 31 March 2020 which was revealed this morning.
The other WAM LICs have been great dividend shares over the years and WAM Global could turn into another good one over time.
Duxton Water Ltd (ASX: D2O)
Duxton Water is the only purely water entitlement business on the ASX. It leases water to agricultural businesses. That water is very important in times like this with dry weather and high levels of food demand.
Water prices are heavily influenced by how much it rains each year. But over the long-term the value is going up with higher demand from high-priced crops like almonds.
The company is aiming to increase its dividend every six months. It just paid its latest dividend and it currently has a projected grossed-up dividend yield of 6.5%.
It's trading at a large discount to its underlying net asset value (NAV).
Foolish takeaway
At the current prices I'd probably go for Brickworks or WAM Global because of their cheap prices and diversified asset bases.
