Goldman Raises Dividend

Goldman Sachs ($GS) reported quarterly earnings of $3.92 per share which beat (lowered) estimates of $3.55 per share. Their net dropped 23% from last year.

But what really caught my attention is that the bank raised its quarterly dividend from 35 cents to 46 cents per share. Goldman was one of the few financials that didn’t slash its dividend during the financial crisis. They managed to keep it at 35 cents since 2006.

With the dividend increase, the bank now yields about 1.56% which isn’t a whole lot. I think it’s important that such a high-profile financial stock is willing to increase its dividend. Hopefully, this will encourage other financials to follow.

Posted by on April 17th, 2012 at 10:35 am


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