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The Australian share market has been negatively impacted due to geopolitical tensions.
In such a scenario, investors search for dividend stocks.
Dividend stocks guarantee income during uncertain times.
While the Australian share market performed on a relatively stronger note in March, the earlier two months of the year had been uncertain for investors. Market sentiment remained low and volatility surged on account of the ongoing Russia-Ukraine war, expectations of an interest rate hike and soaring consumer prices. In such a scenario, investors plan their investment strategies carefully and largely look to include dividend stocks in their portfolios. Despite many companies getting negatively impacted by geopolitical tensions and the COVID-19 pandemic, there were a few which continued to pay dividends.
On this note, let’s discuss how these banking stocks performed on the dividend front:
Commonwealth Bank of Australia (ASX:CBA)
In FY21, CBA paid an annual dividend of AU$3.50 per share, up 17% compared to FY20.
In February 2022, the Australian bank announced an interim dividend of AU$1.75 per share, representing a 17% rise on the FY21 half-year dividend.
National Australia Bank Ltd (ASX:NAB)
In 2021, NAB paid a final dividend of 67 cents per share, more than double of 30 cents paid in the previous year.
Meanwhile, the bank reported an 8% revenue rise over the second-half quarterly average of FY2021. The unaudited statutory net profit stood at AU$1.8 billion during the period.
Westpac Banking Corporation (ASX:WBC)
WBC paid a total of 118 cents per share as a full-year dividend in FY2021, a rise of 280% over the COVID-19-impacted FY2020. WBC doesn’t announce the quarterly dividend.
In the last decade, Westpac made a total of 21 dividend payments, including two special dividends from 2012 to 2022.
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