The rise in interest rates hasn’t been bad for all sectors. In fact, some of them have been able to make the most out of the Fed’s recent action. Case in point, our latest Best High-Yield Dividend Stocks Model Portfolio pick, which has seen profits rise in the new rate environment. Investors also get a hefty 4.67% yield that they can catch when the stock goes ex-dividend on Friday, September 16, with a regular payout of $0.155/share.
The key to the interest rate win is that our pick is a large regional bank. With a commanding presence in the Great Lake states, our pick features a wide deposit and loan base. A base that has seen its net interest margins surge in recent quarters as the Fed has raised rates.
Meanwhile, our pick has been smart with technology and on the M&A front, allowing it to court newer, younger customers as well as instantly build-out its presence in its key operating areas. All in all, our selection has plenty of stability and growth behind it. And with that, it makes for a great high-yielding pick.
To make room for our new regional bank pick, we’ve been forced to remove a midstream stock from the portfolio.
You can check out the Best High Dividend Stocks Model Portfolio to explore all the stocks.
