6 Foreign Bank Stocks Under $10

Some of the foreign banks that fell heavily during last year and early this year are still languishing under the $10 range. Most of them either don’t pay or have suspended dividend payments.

The following is a list of Foreign Bank ADRs that closed at under $10 as of 1/05/2009:

1. National Bank of Greece (NBG)
Country: Greece
Price: $7.75
Dividend Yield: 1.57%

2. Grupo Financiero Galicia (GGAL)
Country: Argentina
Price: $6.00
Dividend Yield: No regular Dividends Paid

3. Allied Irish Banks (AIB)
Country:Ireland
Price: $5.63
Dividend Yield: No regular Dividends Paid

4. Mitsubishi UFJ Financial (MTU)
Country:Japan
Price: $5.44
Dividend Yield: No regular Dividends Paid

5. Lloyds Banking Group (LYG)
Country: U.K.
Price: $5.57
Dividend Yield: No regular Dividends Paid

6. Mizuho Financial (MFG)
Country: Japan
Price: $4.10
Dividend Yield: No regular Dividends Paid

Lloyds Bank of UK is trying hard to free itself from the yoke of the British government which is a major shareholder now. Before the crisis began, Lloyds used to be an excellent British bank stock with strong and consistent dividend payments year over year. Even now the bank has a highly valued franchise in the UK. Unlike its competitor, Anglo Irish Bank, which was nationalized by Ireland, Allied Irish Bank survived and continues to operate as a private financial institution.