After yesterday's severe declines in the Financial sector, the indicated dividend yields on many of these companies have become laughable. Bank of America yielding 11.6%! Wachovia yielding 10.5%! Many of these dividends are going to have to be cut for these companies to stay solvent, but for ones that are able to continue with their regular payouts, share owners will be getting quite the yield.
Below we highlight stocks in the S&P 500 with the highest indicated dividend yields. If you're buying these names because the yield looks too good to be true, remember that it probably is.