If you're on the lookout for quality fully franked dividends then you're in luck. Despite the many suspensions and deferrals, there are still a good number of fully franked options for investors to choose from.
Two ASX dividend shares that offer generous fully franked dividends are listed below. Here's why I like them:
Dicker Data Ltd (ASX: DDR)
The first fully franked ASX dividend share to buy is Dicker Data. It is a leading wholesale distributor of computer hardware and software in the ANZ region. Dicker Data has been growing at a very strong rate in recent years thanks to a combination of strong demand, new vendor agreements, and favourable industry tailwinds.
The good news is that it is showing no signs of slowing and is on course to deliver another record result in FY 2020. So much so, the Dicker Data board revealed that it intends to increase its dividend by 31% to 35.5 cents per share this year. Based on the current Dicker Data share price, this represents a very generous 5% fully franked dividend yield.
Wesfarmers Ltd (ASX: WES)
I think this conglomerate could be a dividend share to buy. I expect Wesfarmers shares to be strong performers over the coming years thanks to the positive outlook of many of its businesses and potential earnings accretive acquisitions. Among its quality brands you'll find Bunnings, Kmart, and Target, as well as ecommerce company Catch Group. Given how rapidly online shopping is growing right now, the acquisition of the Catch business last year looks like a masterstroke.
Looking ahead, I estimate that the company will be in a position to pay a dividend of $1.46 per share in FY 2021. Based on the current Wesfarmers share price, this equates to a fully franked 3.2% dividend yield. While this is not the biggest yield on the ASX, it still smashes those on offer with term deposits and savings accounts.
