Later today the Reserve Bank of Australia will be meeting to discuss the cash rate. According to a note out of Westpac Banking Corp (ASX: WBC), its economics team expect no changes to be made.
In fact, the bank continues to forecast the cash rate staying on hold at the record low of 0.1% until at least December 2022.
As a result, dividend shares look likely to remain the best option for income investors for the foreseeable future.
But which dividends shares should you consider buying? Three with big yields are listed below:
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Adairs Ltd (ASX: ADH)
Adairs is a leading homewares and furniture retailer with both a physical presence and growing online presence. The latter includes through its Mocka brand. According to a note out of UBS, its analysts have a buy rating and $4.40 price target on its shares. It is forecasting a fully franked dividend of 21.9 cents per share in FY 2022. Based on the current Adairs share price of $4.08, this will mean a yield of 5.4%.
National Australia Bank Ltd (ASX: NAB)
This banking giant could be a top option for income investors. This is due to improving trading conditions, the Citi acquisition, and its cost management initiatives. Goldman Sachs is very positive on the bank. It has a conviction buy rating and $30.62 price target on the bank's shares. In addition, the broker is forecasting a 4.6% dividend yield in FY 2022.
Telstra Corporation Ltd (ASX: TLS)
A final dividend share to look at is this telco giant. It is expecting to return to growth at long last in FY 2022, with management forecasting underlying EBITDA growth of 4.5% to 9%. The team at Morgans expect this to underpin a 16 cents per share fully franked dividend. Which based on the current Telstra share price of $3.90, will mean a yield of 4.1%. Morgans has an add rating and $4.34 price target on its shares.
