Here’s where you could invest your Woolworths (ASX:WOW) dividends today

Here are the two ASX shares that I would be investing my Woolworths Group Ltd (ASX:WOW) dividends into this week…
The post Here’s where you could invest your Woolworths (ASX:WOW) dividends today appeared first on Motley Fool Australia. –

Woolworths share price

On Tuesday eligible shareholders of Woolworths Group Ltd (ASX: WOW) will be paid the conglomerate’s fully franked 48 cents per share final dividend.

If you’re planning to reinvest these funds back into the share market, then I would suggest you consider the ASX shares listed below.

Here’s why I think they would be top options for your Woolworths dividends:

Cochlear Limited (ASX: COH)

If you’re looking to invest these funds into a growth share, then you might want to take a closer look at Cochlear. It is one of the world’s leading hearing solutions companies with a growing portfolio of high quality implantable devices.

I believe Cochlear is well-positioned for growth over the next decade and beyond thanks to the extremely favourable shift in demographics globally. According to the World Health Organization, by 2050 there are forecast to be 1.5 billion people over the aged of 65. This will be almost triple the number of over 65s in 2010. I expect this to lead to growing demand for its hearing products and underpin solid earnings growth in the future.

Commonwealth Bank of Australia (ASX: CBA)

If you’re wanting even more dividends, then I would suggest you consider buying this banking giant’s shares. Although the pandemic is certainly hitting the bank hard, I’m confident the provisions it has made will be sufficient. This could mean that the worst is now over for Commonwealth Bank and it is onwards and upwards from here.

Another big positive is the recent news that responsible lending rules will be relaxed. I expect this and a jobs-focused Federal Budget to be a big boost to the banks and could put them on a path to return to growth in the not so distant future. Estimating what dividend the bank will pay is difficult, but I would expect something in the region of 4% fully franked in FY 2021.

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

Find out the names of our 3 Post COVID Stocks – For FREE!

*Returns as of 6/8/2020

More reading

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 Cochlear Ltd. The Motley Fool Australia owns shares of Woolworths Limited. The Motley Fool Australia has recommended Cochlear Ltd. 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 post Here’s where you could invest your Woolworths (ASX:WOW) dividends today appeared first on Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!