With the two-year US Treasury yield at 3.402% on Friday, investors should look for stocks that offer high dividend yields or increased dividend payments per share.
While dividend yield is important, it will fluctuate with market volatility. On the other hand, the dividend paid per share will remain flat unless management increases, decreases, or suspends dividend payments.
According to that S&P Dow Jones indicesthe financials sector of the S&P 500 is down 13.19% as of September 1, 2022. Here are two dividend stocks in the financials sector with solid dividend payments and share buyback programs.
Citizens Financial Group Inc CFG offers a dividend yield of 4.59%, or $1.68 per share annually, makes quarterly payments, and has posted a one-time dividend increase over the past year. Citizens Financial Group is a retail banking holding company principally operating in the New England, Mid-Atlantic and Midwest regions of the United States with 1,200 branches, 3,300 ATMs and $159 billion in deposits as of June 30, 2022.
Citizens recently announced that its board of directors has authorized the company to repurchase up to $1.0 billion of its common stock. This represents an increase of $545 million over the $455 million in capacity remaining under the previous $750 million permitting schedule in January 2021.
Go to: When will the Amazon, Microsoft and Nike bounce end? What the charts say
Goldman Sachs Group Inc GS offers a dividend yield of 3.00% or $10.00 per share annually using quarterly payments, with a notable track record of increasing its dividends for two consecutive years. Goldman Sachs Group is a leading global investment banking company, whose operations as of 2021 are segmented into Investment Banking (20% of net sales), Global Markets (45%), Wealth Management (20%) and Consumer and Wealth Management (15%).
During the second quarter, Goldman Sachs returned $1.22 billion of capital to common shareholders, including 1.5…
