3 financials yielding 3% or more
These stocks maintain payouts despite the market's hard times.
Financial stocks have been in focus after earnings from heavyweights Goldman Sachs (GS), JP Morgan Chase (JPM), Bank of America (BAC) and others. Earnings at these top banks have apparently taken a hit as profits from their trading divisions have lagged.
But investors shouldn’t have to count on the investment arm
of a big bank to make money. There are a number of high-yield dividend stocks
in the financial sector that offer plenty of payback no matter what the market
These are financial stocks with big dividends that have managed to maintain high yields even as other financials have cut or eliminated their payouts in the wake of the financial crisis.
Here are 3 financial stocks with a dividend yield of 3% or better to help deliver a steady flow of cash to your bank account.
Bank of Montreal (BMO): Interestingly, Bank of Montreal (BMO) is based in Toronto, and offers a range of credit and non-credit products and services to its clients through international offices, branches and subsidiaries. With 900 banks operating in Canada, BMO has seen an +8.3% rise in stock price since January compared with a decline in the broader markets. Bank of Montreal has paid a dividend for 181 years and is set to pay shareholders another $0.70 in its next upcoming quarterly dividend Aug. 26.
Bank of Nova Scotia (BNS): The Bank of Nova Scotia (BNS) offers products and services, including retail, commercial, corporate and investment banking to customers in nearly 50 countries world wide. Founded in 1832, BNS has been paying a dividend since 1834. The Bank’s stocks are up slightly in 2010, having seen an increase of +1.8% since January. A quarterly dividend of $0.49 will be paid to shareholders on July 28.
M&T Bank (MTB): M&T Bank (MTB) is a bank holding company that offers a wide range of commercial banking, trust and investment services to its customers. M&T has fared quite well in 2010 and is up 24.8% with a stock price of $83.50. The Buffalo based company paid a dividend of $0.70 on June 30, and has been paying a dividend to shareholders for 31 years.
For 7 more high yield dividend stocks in the financial sector, follow this link
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