NBF backs resource stocks in energy-sector upgrade

If you picked up bank stocks when the stock market was at its lowest in March when financials were out of favour, then they’re definitely worth holding on to for their once-in-a-lifetime dividend yields that topped out with Bank of Montreal paying 11.64 per cent per annum. Bet you wish you could turn the clock back on that one!

Since then, share prices of Canada’s banks have soared an average of 105 per cent and while the stocks remain attractive, the average yield of the Big Six has fallen to 4.4 per cent from 9.1 per cent. BMO is still delivering the most at 5.4 per cent. Even so, investment advisers are less positive on bank stocks and financials than they were a couple of months ago.

Read more here.

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