MyState, AUB Group, and Carlton Investments are financial services stocks that generally perform in-line with the economy. These companies provide services ranging from consumer finance to investment banking. During downturns, financial services companies tend to be hit the hardest as net interest margins shrink and credit losses grows. However, during prosperous times, they report robust profits and many pay attractive dividends. If you’re a buy-and-hold investor, these healthy dividend stocks in the financial industry can generously contribute to your monthly portfolio income.
MyState Limited (ASX:MYS)
MYS has a enticing dividend yield of 5.64% and is paying out 83.71% of profits as dividends . MYS is among the markets top 25% of dividend payers, which is certainly enticing for interested investors. More on MyState here.
AUB Group Limited (ASX:AUB)
AUB has a good dividend yield of 3.24% and pays out 81.29% of its profit as dividends . The company’s DPS have increased from $0.15 to $0.42 over the last 10 years. During this period, the company has not missed a dividend payment – as you would expect from a company increasing their dividend. Continue research on AUB Group here.
Carlton Investments Limited (ASX:CIN)
CIN has a wholesome dividend yield of 3.36% and is currently distributing 77.42% of profits to shareholders . CIN’s dividends have increased in the last 10 years, with DPS increasing from $0.6 to $1.16. During this period, they haven’t missed a payment, as one would expect from a company increasing their dividend. It should comfort potential investors that the company isn’t expensive when we look at its PE ratio compared to the AU Capital Markets industry. Carlton Investments’s PE ratio is 23 while its industry average is 23.4. More detail on Carlton Investments here.
For more solid dividend payers to add to your portfolio, you can use our free platform to explore our interactive list of top dividend payers.
To help readers see pass the short term volatility of the financial market, we aim to bring you a long-term focused research analysis purely driven by fundamental data. Note that our analysis does not factor in the latest price sensitive company announcements.
The author is an independent contributor and at the time of publication had no position in the stocks mentioned.