This Dividend Stock Yields 2.9%, and It Can Afford More

It already has an excellent yield, but this fintech has the financials to go even higher. In a market like the one we are experiencing right now, dividend stocks have been somewhat of a safe haven. The payouts can boost income or an investment's total return.

One reliable dividend stock over the past few years -- through the pandemic and this current sell-off -- is Ally Financial (ALLY -1.01%). The online banking pioneer has been able to increase its dividend every year for the past six years, including this year. Ally Financial currently offers an attractive yield of 2.9% -- which is not only sustainable but could even be increased. Letʻs take a look at why Ally is a good dividend stock right now.

Source: Motley Fool

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