NEW YORK (TheStreet) -- Many banks have increased their dividend payouts this year, while very few have lowered them, and the weakness in share prices has pushed dividend yields even higher.
With short-term rates likely to remain near zero for some time and long-term rates heading lower in the wake of the Federal Reserve's "Operation Twist," familiar banking names with high dividend payouts are looking more and more attractive for income-seeking investors.
According to KBW's Dividend Tracker, 30 publicly traded banks and thrifts raised their dividends during the third quarter. The only publicly traded bank lowering its dividend was Tower Bancorp of Harrisburg, Pa., which has a deal in place to be acquired by Susquehanna Bancshares of Lititz, Pa. One company -- Suffolk Bancorp of Riverhead, N.Y. -- eliminated its dividend during the third quarter.
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