On Friday the Federal Reserve rode to the aid of bank stocks. The sector had been looking a little pale around the PE in the last few days with the Financial Select Sector SPDR ETF (XLF) up only 0.11% for the last week. That comes after a strong performance in the last month–a 4.24% gain. For the year to date the financial ETF is down 5.48% The Federal Reserve, however, cleared the way for banks to boost capital distributions–dividends eventually and more immediately share buybacks
I’m adding Citigroup, the most recent pick in my Dividend Stocks Special Report, to my Dividend Portfolio tomorrow
Special Report: Dividend stocks that are beating the risky rockets–Part 1 Five utility picks; Part 2 and the first 2 of 5 vaccine recovery picks
I started off with utility stocks and I’ve now moved on to other dividend stocks within the general argument that dividend stocks–if you pick the right one–are perfect for the post-vaccine economy and stock market rally.