Whilst I think the big four banks are trading at attractive prices after recent pullbacks, not all investors are keen on them after recent controversies.
So if you’re looking for some non-bank dividend options, then the three ASX income shares listed below could be great alternatives to Commonwealth Bank of Australia (ASX: CBA) and the rest of the big four:
Helloworld Travel Ltd (ASX: HLO)
I think Helloworld is largely underappreciated by investors. The integrated travel company’s shares offer a winning combination of growth, income, and value. At present its shares are changing hands at under 14x estimated FY 2020 earnings and offer a trailing fully franked 4.1% dividend yield. I think this is very attractive, especially considering its first quarter performance. It delivered EBITDA growth of 7.7% in the quarter and appears well-placed to continue this trend over the remainder of the year.
National Storage REIT (ASX: NSR)
Another alternative to the banks could be National Storage. It is one of the largest self-storage providers in ANZ market. At the last count it owned 168 centres and from them was providing tailored storage solutions to over 60,000 residential and commercial customers. With the housing market improving greatly, I expect demand for its services to strengthen over the coming years. Combined with the expansion of its network, I believe this should support solid underlying earnings growth. Its units currently offer a generous distribution yield of 5%.
Scentre Group (ASX: SCG)
A final option to consider is Scentre Group. It is the property company behind the Westfield shopping centres in the ANZ market. As of the end of September, its centres had welcomed over 535 million customers through their doors on a 12 month basis. This has unsurprisingly led to strong demand for tenancies from retailers, leading to 99.3% of its portfolio being leased. I’m confident this trend will continue for the foreseeable future. This should put Scentre in a good position to grow its distribution at a modest rate in the coming years. At present its units offer a trailing 5.7% distribution yield.
The post Forget CBA and buy these ASX dividend shares right now appeared first on Motley Fool Australia.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Helloworld Limited. The Motley Fool Australia has recommended Helloworld Limited, National Storage REIT, and Scentre Group. 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.
The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2020