Seven hottest ASX-listed banking stocks based on dividend

Summary

  • Australian banks were among those that were largely unfazed by the coronavirus pandemic.
  • Reserve Bank of Australia Governor Philip Lowe accorded a great deal of credit to the financial sector for supporting the economy to a large extent during the crisis.
  • There are several Australian banks that have a record of paying regular dividends to the shareholders.

Australia boasts of a robust financial structure, with more than 80 banks as part of the banking system. Australian banks were among those that were largely unfazed by the coronavirus pandemic, with most banks rewarding their shareholders with healthy dividends. Also, Reserve Bank of Australia Governor Philip Lowe owed a great deal of credit to the financial sector for supporting the economy to a large extent during the crisis.

Source: © Moth   | Megapixl.com

READ MORE: Which are the top 5 ASX 200 dividend shares?

Here are seven ASX-listed banking stocks for dividends:

Commonwealth Bank of Australia Ltd (ASX:CBA)

Commonwealth Bank is the largest bank of Australia.  Founded in early 1900s, the bank is double the value of its second placed peer.

READ MORE: What are the risks of investing in high dividend stocks?

On 30 March 2021, the bank paid a fully franked dividend of AU$1.50. As of 13 July 2021, the bank’s annual yield stood at 2.50%. According to Commonwealth Bank of Australia, it seeks to:

  • Pay cash dividends at strong and sustainable levels.
  • Target a full-year payout ratio of 70% - 80%.
  • Maximise the use of its franking account by paying fully franked dividends.

Westpac Banking Corporation (ASX:WBC)

The bank was incorporated in 2002. It deals with deposits, lending, payments, portfolio management and advice, superannuation and funds management, insurance services and interest rate risk management. The bank last paid a 100% franked dividend of AU$0.580 on 25 June 2021. The annual dividend yield stands at 3.48%, as of 13 July 2021.

It was 100% franked with Australian franking credits. A New Zealand imputation credit of NZ$0.07 per share was attached to the dividend.

National Australia Bank Ltd (ASX:NAB)

National Australia Bank (NAB) serves over 12.7 million customers across Australia and provides a diversified range of financial products including retail, business, institutional banking, and wealth management products.

On 2 July 2021, the bank last paid a dividend of AU$0.6. The dividend amount was double the amount paid to the shareholders previous year. The annual dividend yield stands at 3.43%, as of 13 July 2021.

Source: © Nilsversemann | Megapixl.com

Australia & New Zealand Banking Group (ASX:ANZ)

Incorporated in 1977, Australia & New Zealand Banking Group is the fourth largest bank in Australia.

The bank last paid a fully franked interim dividend of AU$0.7 on 1 July 2021. The annual dividend yield stands at 3.75%.

Bank of Queensland Ltd (ASX:BOQ)

Founded in 1984, Bank of Queensland last paid a dividend of AU$0.170 on 26 May 2021.

The annual dividend yield stands at 3.21%. The 2020 full year dividend was AU$0.12 per share.

Bendigo and Adelaide Bank Ltd (ASX:BEN)

The bank provides a range of banking and financial services to retail and SMEs (small to medium enterprises) in Australia.

Bendigo and Adelaide Bank last paid a dividend of AU$0.280 on 31 March 2021. The annual dividend yield stands at 2.70%.

Source: © Kiosea39   | Megapixl.com

Macquarie Group Ltd (ASX:MQZ)

Founded in 1969, Macquarie is among the largest investment banks in Australia. The services provided by the bank include asset management, financial advisory, and risk and capital solutions across debt, commodity, and equity markets.

Macquarie Bank last paid a dividend of AU$3.350 per share (40% franked) on 2 July 2021. The annual dividend yield stands at 3.02%. The dividends are paid in early July and mid-December each year.

READ MORE: Five ASX penny stocks not to be missed in July

READ MORE: 10 hottest ASX stocks costing less than a dollar per share

Comment


Disclaimer

Ad

GET A FREE STOCK REPORT


Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.


   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK