4 Bank Stocks Increasing Their Dividends
If you think the banking sector is headed for a rally and you're partial to dividend stocks, then your options are somewhat limited right now. The Federal Reserve has capped dividends at the 100 largest banks to the average net income of the trailing four quarters. Furthermore, they told these banks in the third quarter to not issue dividends that exceed their second-quarter dividends. These restrictions will last until at least next year. However, there are still some banks increasing their dividends. Here are four.
Image Source: Getty Images.
The $26.4 billion Bank OZK (NASDAQ: OZK), based in Little Rock, Arkansas, recently increased its quarterly dividend to $0.275 per share, or roughly 0.92% higher than the dividend paid in the prior quarter. Bank OZK has now raised its dividend in each of the last 41 quarters. Trading at $21.90 as of Monday's close, the bank has an annual dividend yield of about 4.9%. Bank OZK is currently trading at about 69% of book value, and its stock price is down roughly 28% year to date.
Source Fool.com
