Hudson City and New York Community Bancorp Remain Strong Dividend Plays
August 02 2011 - 11:49AM
Marketwired
Despite new government regulations and consistently low interest
rates, companies in the Savings & Loans Industry continue to
pay some of the largest dividends in the Financial Sector.
Improving credit quality has allowed Savings & Loans companies
to maintain relatively steady earnings, which has kept dividend
payments stable. The Bedford Report examines the outlook for the
Savings and Loans Industry and provides equity research on Hudson
City Bancorp, Inc. (NASDAQ: HCBK) and New York Community Bancorp,
Inc. (NYSE: NYB). Access to the full company reports can be found
at:
www.bedfordreport.com/HCBK
www.bedfordreport.com/NYB
Despite the ongoing economic recovery, several companies within
the savings and loans industry are still struggling to resume
growth, primarily as a result of low interest rates. Many companies
in the industry have warned that unemployment and the increased
role of government-owned companies in the mortgage market may weigh
on results moving forward.
Hudson City Bancorp Inc. and New York Community Bancorp are both
heavily invested in real estate mortgages and the well documented
problems in the housing industry has led these banks' earnings
lower in the most recent quarter.
The Bedford Report releases stock research on the savings and
loans industry so investors can stay ahead of the crowd and make
the best investment decisions to maximize their returns. Take a few
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Upon announcing second quarter earnings, Hudson City Bancorp
declared a quarterly dividend of 8 cents per share. The dividend
will be paid on August 30 to shareholders of record as of August 5.
Hudson City Bancorp said second-quarter 2011 operating earnings
came in at 19 cents per share, which compares unfavorably with the
earnings of 29 cents in the prior-year quarter.
Last month New York Community Bancorp reported second-quarter
net income of $119.5 million, or 27 cents a share, declining from
$123.2 million, or 28 cents a share in the first quarter and $131.4
million, or 30 cents a share, in the second quarter of 2010.
Presently NYB pays an annual dividend of $1 per share, for a hefty
yield of around 7.4 percent.
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