Citizens Financial Group (CFG), Goldman Sachs Group (GS) – Here Are 2 High Yielding Dividend Stocks In The Financial Sector Conducting Share Buybacks

With the U.S. 2-Year Treasury Yield sitting at 3.402% as of Friday, investors may want to hunt for stocks offering high dividend yields or elevated dividend payments per share.

Although the dividend yield is important, it will fluctuate with the volatility of the market. On the other hand, the dividend paid per share remains unchanged unless management increases, decreases, or suspends dividend payments.

According to the S&P Dow Jones Indices, the S&P 500 financial sector is down 13.19%, as of September 1, 2022. Here are two dividend stocks in the financial sector with solid dividend payments and share buyback programs.

Citizens Financial Group Inc CFG is offering a dividend yield of 4.59% or $1.68 per share annually, making quarterly payments, with a track record of increasing its dividends once in the past year. Citizens Financial Group is a retail bank holding company operating primarily in the New England, Mid-Atlantic, and Midwest regions of the United States, with 1,200 branches, 3,300 ATMs, and $159 billion in deposits as of June 30, 2022.

Citizens recently announced that its board of directors has authorized the company to repurchase up to $1.0 billion of its common stock. This represents an increase of $545 million above the $455 million of capacity remaining under the prior $750 million January 2021 authorization plan.

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Goldman Sachs Group Inc GS is offering a dividend yield of 3.00% or $10.00 per share annually, utilizing quarterly payments, with a notable track record of increasing its dividends for two consecutive years. Goldman Sachs Group is a leading global investment banking firm whose activities are organized into investment banking (20% of net revenue), global markets (45%), asset management (20%), and consumer and wealth management (15%) segments, as of 2021.

During the second quarter, Goldman Sachs returned $1.22 billion of capital to common shareholders, including 1.5 million shares purchased at an average of $323.74 or $500 million, and through $719 million of common stock dividend payments.

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