We have identified five high-dividend paying financial stocks that we believe can provide stable income amid a tough economic backdrop, and during a time when financials have underperformed the broader market. The Dow Jones Industrial Average is up 50% since 2009, while the Dow Jones U.S. Financial Index is up only 40%. Our list does not include the most common banking giants, such as Bank of America, Citi, Goldman Sachs or JPMorgan because our dividend paying banks are unlike those, in that the banks we have identified have solid earnings and payout ratios.
Overall, a good number of our banks are from north of the International Boundary. As banking profits have been slumping globally, Canadian banks have been taking advantage of their peers' weaknesses by snatching up other smaller banks and distressed banks. Here are the stocks: Westpac Banking (NYSE: WBK), Mizuho Financial Group (NYSE: MFG), Bank of Montreal (NYSE: BMO), Canadian Imperial Bank of Commerce (NYSE: CM) and Bank of Nova Scotia (NYSE: BNS).
Source: Motley Fool
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