3 Financial Stocks Whose Dividends Survived the Last Recession Intact
These stocks navigated not just the COVID recession, but the Great Recession, too.
Overview
There have been two recessions over the past 20 years. One, the Great Recession from 2007-2009 was one of the longest ever, while the other, the COVID-19 recession from February to April 2020, was one of the shortest, but most severe, literally stopping the nation in its tracks for several months.
The financial sector was hit particularly hard as banks saw lending dry up and, during the COVID recession, were hammered by heavy credit-loss provisions, which were a major drag on earnings. Further, investment managers saw their asset levels plummet due to tanking stock prices and outflows, which hurt their earnings.
Details
Yet, some financial stocks survived both recessions without reducing their dividends. Here are three stocks that weathered the last two recessions while maintaining their dividends.
Source
Originally published at www.fool.com.