Which Bank Stock Pays The Highest Dividend
Investors seeking immediate income, take note: a clear leader has emerged in the banking sector's dividend yield race.
This article cuts through the noise to deliver the name of the bank stock currently offering the highest dividend yield, crucial information for dividend-focused investors.
The Dividend Champion: KeyCorp (KEY)
As of today, KeyCorp (KEY) stands out with the highest dividend yield among major US bank stocks.
According to recent market data, KeyCorp's dividend yield is hovering around 6.8%, making it a compelling choice for income-seeking investors.
Dividend Yield Comparison
While other banks offer dividends, KeyCorp's current yield significantly surpasses those of its peers.
For example, consider Citigroup (C) with a yield around 3.6% and Bank of America (BAC) at roughly 2.6%.
KeyCorp's Dividend Details
KeyCorp's current quarterly dividend is $0.205 per share.
This translates to an annualized dividend of $0.82 per share.
The next ex-dividend date has been set for approximately end of July 2024, with the payment date to follow soon after.
Important Considerations
It's crucial to remember that dividend yields can fluctuate with stock price movements.
A rising stock price will decrease the dividend yield, while a falling price will increase it.
Furthermore, dividend yields are not the only factor to consider when investing in bank stocks; you should always consider the financial health of the bank.
Bank's Financial Health
The bank's financials reported total revenue of $1.59B during the first quarter of 2024.
The bank's Q1 net income was reported at $182M.
Where to Find More Information
You can find detailed dividend information on financial websites like Yahoo Finance, Bloomberg, and the KeyCorp investor relations page.
These resources provide current dividend yields, payment dates, and historical dividend data.
Looking Ahead
Keep an eye on future earnings reports and company announcements from KeyCorp.
Any changes to the dividend policy or financial performance could impact the dividend yield and the stock's overall attractiveness.
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