Here are 2 High Yielding Dividend Stocks in the Financials Sector Doing Stock Buybacks

With the 2-year US Treasury yield sitting at 3.402% on Friday, investors may want to look for stocks offering high dividend yields or high dividend payouts per share.< /p>

Although the dividend yield is significant, it will fluctuate with market volatility. In contrast, the dividend paid per share remains unchanged unless management increases, decreases or suspends dividend payments.

According to the S&P Dow Jones Indices, the S&P 500 financials sector is down 13.19% as of September 1, 2022. Here are two financial sector dividend stocks with strong dividend payouts and share buyback programs.

Citizens Financial Group Inc CFG offers a dividend yield of 4.59% or $1.68 per share per annum, making quarterly payments, with a history of increasing its dividends once in the past year. Citizens Financial Group is a retail banking holding company operating primarily in the New England, Mid-Atlantic and Midwestern regions of the United States, with 1,200 branches, 3,300 ATMs and $159 billion in deposits as of June 30, 2022.

Citizens recently announced that its board of directors has authorized the company to repurchase up to $1.0 billion of its common stock. This represents an increase of $545 million from the $455 million of remaining capacity under the previous authorization plan of $750 million in January 2021.

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Goldman Sachs Group Inc GS offers a dividend yield of 3.00% or $10.00 per share per annum, using quarterly payments, with a notable history of increasing its dividends for two consecutive years. Goldman Sachs Group is a leading global investment bank with operations organized into investment banking (20% of net revenue), global markets (45%), asset management ( 20%) and management of goods and consumption (15%), from 2021.

During the second quarter, Goldman Sachs returned $1.22 billion of capital to common stockholders, including 1.5 million shares purchased on average at $323.74 or 500 million, and through $719 million in common stock dividends.

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