Bank dividend yields are hard to ignore. But here’s why you should [Toronto Globe and Mail (Ontario, Canada)]
Bank Of Montreal (BMO)
Last bank of montreal earnings: 2/25 06:00 am
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Source: Toronto Globe and Mail
If you’re buying bank stocks for their dividend yields, you might be looking at the wrong feature. Dividends have been getting a lot of attention this week, given that it is the first time that the banks have raised their dividends since the pandemic began over a year and a half ago. The biggest banks boosted their payouts by an average of 15 per cent when they reported their fiscal fourth-quarter results this week. While bigger payouts are nice, though, dividend yields have had little impact on the banks’ share price performance over the past three years – a period that includes the normal economic backdrop of 2019, the stock market selloff in early 2020 and the recovery since then. At the end of the banks’ fourth quarter in 2018, Bank of Nova Scotia and Canadian Imperial Bank of Commerce beckoned investors with yields of 4.6 per cent and 4.7 per cent, respectively – the highest yields among the Big Six. However, the strategy of buying the highest-yielding bank stocks didn’t reward
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