Where to reinvest your Telstra (ASX:TLS) dividends

Wanting to reinvest your Telstra Corporation Ltd (ASX:TLS) dividends into the share market? Then take a look at these top ASX shares…
The post Where to reinvest your Telstra (ASX:TLS) dividends appeared first on The Motley Fool Australia. –

janus henderson share price increasing represented by pile of australian one hundred dollar notes

If you’re a Telstra Corporation Ltd (ASX: TLS) shareholder then you’ll be pleased to learn that today is payday. This morning the telco giant paid shareholders its fully franked interim dividend of 8 cents per share.

While many shareholders will use this for income or use its dividend reinvestment plan, others may want to reinvest these funds into other ASX shares. If that’s you, then you might want to take a look at these highly rated shares:

Goodman Group (ASX: GMG)

The first ASX share to look at reinvesting these funds into is Goodman Group.

Goodman develops and owns a high quality portfolio of assets across a number of countries. This portfolio has been curated with its gateway city strategy in mind.

Management’s focus is on investing in and developing high quality industrial properties in strategic locations. These are close to large urban populations and in and around major gateway cities globally. This is where demand is strong and transformational changes are driving significant opportunities.

An example of this is the company’s asset in Oakdale West Industrial Estate which is leased to Amazon Australia. Last week the company revealed that the fulfilment centre is on track for completion by the end of the year.

Once operational, the centre will house up to 11 million items and will be equipped with the most advanced Amazon Robotics technology to assist employees and serve customers.

Macquarie recently upgraded Goodman’s shares to an outperform rating and lifted its price target to $20.39.

Westpac Banking Corp (ASX: WBC)

If you’re looking for more dividends, then you might want to consider Westpac.

Although the big four banks have rallied strongly over the last few months, it doesn’t appear to be too late to invest.

Especially given the improving economic outlook, the booming housing market, the removal of dividend restrictions, and the relaxation of responsible lending rules.

One broker that believes the Westpac share price can continue to rise is Morgans. Last month the broker put an add rating and $27.50 price target on its shares. It is also forecasting fully franked dividends of $1.32 per share in FY 2021 and $1.43 per share in FY 2022.

Based on the latest Westpac share price of $24.34, this will mean 5.4% and 5.9% yields, respectively.

These Dividend Stocks Could Be Your Next Cash Kings (FREE REPORT)

Motley Fool Australia’s Dividend experts recently released a brand-new FREE report revealing 3 dividend stocks with JUICY franked dividends that could keep paying you meaty dividends for years to come.

Our team of investors think these 3 dividend stocks should be a ‘must consider’ for any savvy dividend investor. But more importantly, could potentially make Australian investors a heap of passive income.

Don’t miss out! Simply click the link below to grab your free copy and discover these 3 high conviction stocks now.

Click Here For Your Free Stock Report

Returns As of 15th February 2021

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Where to reinvest your Telstra (ASX:TLS) dividends appeared first on The 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!