Dividends are key for banks

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Dated: 05/01/2008

THOSE brave enough to believe that banks are not doomed to fail, and that the share prices of many will stage handsome recoveries this year, can glean comfort from the dividend yields. Investors in banking shares have long been kept warm by dividend income higher than the market average, but the share price slumps of recent months mean that the yields are now very attractive indeed. The FTSE banking sector gives an average of 5.5 per cent. It is typical for London-quoted stock to yield about 3 per cent.

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