Canadian banks reinforced their appeal to investors seeking higher yields amid persistent low interest rates as three of the country's largest lenders raised quarterly dividends, Bloomberg reported Thursday night.
Canada's six biggest banks boast 12-month dividend yields of 3.5% to 4.2%, higher than any U.S. bank with a market value of at least US$10 billion and more than many European lenders of similar size, according to data compiled by Bloomberg.
Bloomberg noted Canadian lenders have been ranked the soundest for six straight years by the World Economic Forum and are among the world's most capitalized. They have increased profits as some global banks including JPMorgan Chase & Co. ( JPM ) have seen earnings in most businesses slump, it said.
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