The fortunes of financial services companies often follow that of the broader economy. These companies provide services ranging from consumer finance to investment banking. Downturns can hit financial services companies hard as net interest margins shrink and credit losses grow. However, in good times, they report steady profits and many pay attractive dividends. I’ve identify the following financial stocks paying high income, which may increase the value of your portfolio.
Camden National Corporation (NASDAQ:CAC)
CAC has a sizeable dividend yield of 2.24% and is distributing 51.20% of earnings as dividends . CAC has increased its dividend from US$0.64 to US$1.00 over the past 10 years. During this period, the company has not missed a dividend payment – as you would expect from a company increasing their dividend. Over the next year, analysts are estimating a double digit EPS growth of 83.28%. Interested in Camden National? Find out more here.
The First of Long Island Corporation (NASDAQ:FLIC)
FLIC has a decent dividend yield of 2.07% and pays 40.14% of it’s earnings as dividends . In the last 10 years, shareholders would have been happy to see the company increase its dividend from US$0.27 to US$0.60. The company has been a reliable payer too, not missing a payment during this time. Interested in First of Long Island? Find out more here.
James River Group Holdings, Ltd. (NASDAQ:JRVR)
JRVR has a solid dividend yield of 3.49% and is currently distributing 81.15% of profits to shareholders . JRVR is among the markets top 25% of dividend payers, which is certainly enticing for interested investors. James River Group Holdings is a strong prospect for its future growth, with analysts expecting the company’s earnings to increase by 91.68% over the next three years. More on James River Group Holdings 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.