Why Is Canadian Imperial Bank of Commerce's Dividend So High?
An investment-grade-rated bank with an entrenched industry position offering a 5.5% dividend yield should sound fascinating to long-term dividend investors. However, many of Canadian Imperial Bank of Commerce's (NYSE: CM) peers have lower yields, which should make investors question why CIBC, as it is more commonly known, is being treated differently by Wall Street. Here are some key reasons.
There's a lot to like about CIBC beyond its fat dividend yield. For example, it is one of a small handful of large banks in Canada benefiting from, basically, a regulator-protected oligopoly.
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Source Fool.com
