Forget Lloyds! I think this is the better bank to buy for BIG dividends
Fool.co.uk16 July 2019, 07:05 UTC. For income chasers seeking a slice of the banking sector, Lloyds Banking Group (LSE: LLOY) may appear a standout selection. Just look at a gigantic 6% dividend yield for 2019 that leaves the 4.5% broader forward average for the FTSE 100 standing; plans to distribute dividends on a quarterly basis; and a robust balance sheet (with a CET1 ratio of 13.9% as of March), which prompts brokers to forecast another payout hike this year. Take Bank of Georgia Group (LSE: BGEO), for example. While Britain appears to be teetering on the brink of recession and in danger of a prolonged Brexit-related hangover, economic growth in the Eurasian nation continues to impress, and is predicted to keep doing so. Lloyds, on the other hand, may struggle to raise dividends at all should a prolonged and/or destructive Brexit process materialise and cause profits to slide. So give the British bank a miss, I say, and go income hunting in Georgia instead.