Allied Irish a Great Dividend Buy Among Fallen Financials
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Back on August 9th, Dividends Matter reader David had suggested that we have a look at Allied Irish Banks (AIB) which is an ADR that trades on the NYSE under the symbol AIB.
At that time, everything looked good and we added it to our portfolio of superior dividend yielding stocks. Unfortunately, it was a little too pricey for us back then at $54.40. So we decided to sit back and wait patiently.
With the recent pullback, especially the financials, this company has now fallen into the buy range! I re-ran the calculations to make sure that everything was still lined up.
The average high dividend yield is 4.39%. The current dividend yield is now 4.79%! Our model price works out to $46.29 which is a discount of 8.39% over yesterday’s price of $42.41.
There is some currency diversification with this stock.
Here is the current dividend analysis of AIB.
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