#8: JPMorgan Chase
Current Dividend Yield: 3.5%
Performance So Far in 2012: +4%
JPMorgan Chase (NYSE:JPM) has been making a lot of headlines lately, and for all the wrong reasons. May’s disastrous $2 billion JPM trading loss has resulted in golden-child banker Jamie Dimon receiving a summons to Capitol Hill to take a whipping from Congress and supporters of the Volcker Rule.
But the stock still is hanging tough, boasts a great yield and is the largest American bank by assets.
On the dividend side, JPM was granted Federal Reserve permission to raise its dividend in March, even as competitors like Citigroup (NYSE:C) and Bank of America (NYSE:BAC) have failed to improve their payouts beyond a nominal penny per quarter in dividends. You can bet that Ben Bernanke and others at the Fed wouldn’t have allowed JPM to boost its payout if it wasn’t sustainable. And on the profits side, JPM still is tracking earnings growth of over 20% this fiscal year even after the trading loss.
If you’re a long-term investor, you might want to take advantage of the recent turmoil in JPMorgan Chase to get into a nice dividend stock at a decent price.