Business
ASX banks to steal the dividend crown from mining stocks by next year
ASX miners have been sitting high on the dividend throne but their reign is under threat as bank stocks are forecast to overtake them in 2022.
While high yielding ASX stocks were forced to slash their dividends in 2020 due to COVID-19, our biggest miners were flushed with cash.
The surprising surge in commodities, like the iron ore price, helped the sector become the dividend king.
Passing of the dividend baton to ASX banks
The Fortescue Metals Group Limited (ASX: FMG) share price, BHP Group Ltd (ASX: BHP) share price and Rio Tinto Limited (ASX: RIO) share price were yielding 7% or more if you included franking.
What’s more, they are well placed to increase their dividend payments in 2021 as the commodity price tailwinds continue…
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