If you're looking to boost your income with some dividend shares, then you might want to consider the ones listed below.
Both dividend shares are expected to provide investors with attractive yields in the near term. Here's what you need to know about them:
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Rural Funds Group (ASX: RFF)
The first ASX dividend share for income investors to look at is Rural Funds.
It is a lessor of agricultural property with revenue derived from leasing almond orchards, macadamia orchards, poultry property and infrastructure, vineyards, cattle properties, cropping properties, agricultural plant and equipment, cattle and water rights.
Rural Funds currently has property portfolio comprising 61 properties across New South Wales, Victoria and South Australia with a lengthy weighted average lease expiry of 10.9 years.
Combined with built in periodic rental increases, this provides Rural Funds with great visibility on its long term earnings. It also allows management to target a 4% dividend increase each year.
This means that in FY 2022, the company is aiming to lift its dividend to 11.73 cents per share. Based on the current Rural Funds share price of $3.00, this represents a yield of 3.9%.
Westpac Banking Corp (ASX: WBC)
Another dividend share that could be a buy is Westpac. It is of course one of Australia's big four banks, operating through a number of brands. These include the eponymous Westpac brand, Bank of Melbourne, Bank SA, St Georges, and Rams.
Although Australia's oldest bank has seen its shares rebound strongly from recent lows, they are still expected to provide investors with generous dividend yields in the coming years.
For example, on a trailing 12-month basis, Westpac's shares currently offer a fully franked 4.9% dividend yield. Whereas if you look ahead to FY 2023, when the team at Morgans is forecasting a $1.60 per share dividend from the bank, the yield increases to a very attractive 6.6% for investors.
