US banks regain confidence, increase dividends

New York

BANK stocks are once against the most lucrative destination for investors seeking dividend returns.

With the Federal Reserve stress test behind them, seven of the biggest financial firms on Wall Street celebrated by increasing shareholder payouts. Financial stocks in the Standard & Poor's 500 Index now account for 15.1 per cent of the gauge's dividends, overtaking technology companies, which contribute 14.8 per cent, data compiled by S&P Dow Jones Indices show.