Financial websites say this stock yields 3.28%, but it actually yields over 8.5%, and goes ex-dividend this week. It just raised its dividend, and once again declared an additional 5% dividend, which isn't reflected in the yield listed by financial websites. Insiders own 7.7% of the company, and have been buying shares in 2015 and 2016. It has received multiple upward EPS estimate revisions in the past 30 days. Remember the old phrase, "All is not what it seems"? That could certainly apply to this article's focus stock, which is actually a high dividend stock...but you wouldn't know it from reading the popular financial websites.
Southside Bankshares, (NASDAQ:SBSI), is a Texas-based community bank, which has treating investors to 2 extra sweeteners for quite some time. In addition to its quarterly dividend, it also pays an annual 5% stock dividend, and a small special dividend in the 4th quarter. However, most of the financial websites don't list these other types of dividends, so you'd think that SBSI only yields a bit over 3%, but when you total up these 3 dividends, and you get a very compelling 8.55% dividend yield.
Source: Seeking Alpha
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