Are ANZ shares really offering the highest dividend yield of the big four?

By any metric, the Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price has had an awful year over 2022 thus far. As it stands today, the ANZ share price has lost a nasty 16.92% year to date.

That doesn’t look great against the broader S&P/ASX 200 Index (ASX: XJO), which is also in the red for the year, but by a far tamer 6.2%. So ANZ’s 2022 losses have almost tripled those of the ASX 200. Ouch.

But in one positive for newer investors, in particular, this fall in value has pushed up the ANZ dividend yield to the 6.19% it stands at today. That comes from ANZ’s last two dividend payments.

These were the interim dividend of 72 cents per share, fully franked, that investors were paid on 1 July, and the final dividend of 72 cents per share, also fully franked, that shareholders received last December.

So is this rather large dividend yield really the top offering of the big four ASX banks at present?

Does ANZ really top the ASX bank shares for dividends today?

Well, let’s go through them. ANZ’s dividend certainly looks good against the current offering from the ‘big dog’ of the ASX banks, Commonwealth Bank of Australia (ASX: CBA).

CBA shares are currently offering a trailing yield of 3.91% at the current share price. That’s including the bank’s final dividend hike that was delivered earlier this month to $2.10 per share. Nothing to turn a nose up against, but certainly not in ANZ’s ballpark.

Turning to Westpac Banking Corp (ASX: WBC), we can see that Westpac has a yield of 5.56% on the table today. That’s getting close to ANZ, but not quite a cigar.

Finally, National Australia Bank Ltd (ASX: NAB) has a dividend yield of 4.55% on offer today. Again, that’s solid, but no candle to ANZ.

So it is true that ANZ currently has the highest dividend yield of the big four ASX bank shares today.

As we discussed earlier, this is something of a byproduct of the poor performance of ANZ shares over recent months. But perhaps dividend income-minded investors won’t care too much about that.

The post Are ANZ shares really offering the highest dividend yield of the big four? appeared first on The Motley Fool Australia.

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More reading

• Here are 2 ASX dividend shares that analysts are tipping as buys
• NAB is the ASX 200 bank share I’d buy today
• The CBA share price is down 4% in August. What’s going on?
• Goldman Sachs names 4 reasons the Westpac share price is cheap
• Could this pose a risk to the ANZ share price in the future?

Motley Fool contributor Sebastian Bowen has positions in National Australia Bank Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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