2 ASX dividend shares to buy with $5,000 today

Woolworths Group Ltd (ASX: WOW) is one of the 3 ASX dividend shares I would buy for strong dividend income today and for the future

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With interest rates still at record low levels, I think investing in ASX dividend shares for income has never been more important.

After all, paltry interest rates mean there's little reason to keep too much cash in the bank these days. As such, I think any investor who prioritises earnings income from their investments should be on the hunt for good-quality ASX dividend shares.

So here are 3 income shares that I think are well-worthy of a $5,000 investment today.

ASX dividend share 1) Woolworths Group Ltd (ASX: WOW)

As the largest grocer in the country, Woolworths needs no introduction. Although this company isn't renown for its massive dividend payouts, I think it's defensive nature as a consumer staples giant makes it a very useful share to own in these uncertain times.

On current prices, Woolies shares are offering a trailing dividend yield of 2.56% (or 3.66% grossed-up with full franking). Although the shares aren't what I would call cheap today, I still prefer it to supermarket arch-rival Coles Group Ltd (ASX: COL) right now, which recently reached a new record high.

2) Vanguard Australian Shares High Yield ETF (ASX: VHY)

This exchange-traded fund (ETF) is another income share I would happily consider today. It's run by the reputable Vanguard Group and only selects a basket of ASX shares that it believes offer the best dividend yields right now.

I like that it has somewhat pivoted away from the ASX banks over the past year as well. Today, VHY's top holdings include Commonwealth Bank of Australia (ASX: CBA), Wesfarmers Ltd (ASX: WES), BHP Group Ltd (ASX: BHP) and Transurban Group (ASX: TCL). It offers a trailing dividend yield of 5.4% on current prices, which also usually comes with franking credits as well.

3) Telstra Corporation Ltd (ASX: TLS)

Telstra is my final dividend pick today. It's the largest telco company in Australia and has a formidable market share in both mobile and fixed-line internet services.

The last few years, Telstra has paid an annual dividend of 16 cents per share, which includes its special dividends funded by NBN payments. This gives Telstra a trailing dividend yield of 4.71% (or 6.73% grossed-up with full franking).

Now, Telstra is set to announce whether this dividend will be maintained this year in its full-year earnings report tomorrow. But I'm quietly confident that it will be so. As such, it might be a good idea to pick up some Telstra shares for future dividend income today.

Foolish takeaway

I think all 3 of these ASX dividend shares would make great $5,000 additions to an income-focused portfolio today. The pick of the bunch for me is Telstra on current prices, but I think Woolies and VHY also have a solid thesis as well.

Motley Fool contributor Sebastian Bowen owns shares of Telstra Limited and Vanguard Australian Shares High Yield Etf. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia owns shares of Transurban Group, Wesfarmers Limited, and Woolworths Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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