Is the Westpac share price a buy for its 9.6% dividend yield?
Is the Westpac Banking Corp (ASX: WBC) share price a buy for the grossed-up dividend yield of 9.6% on offer? The big bank didn’t cut its dividend in its recent report, unlike National Australia Bank Ltd (ASX: NAB) which did. Westpac and Commonwealth Bank of Australia (ASX: CBA) are the only two of the four big banks to have maintained or grown their dividends each year since the GFC. The financials of a bank don’t tell you how risky (or not) the borrowers are, which is why I don’t want to invest in ASX banks myself. If I were looking for income I would much rather own shares of these top ASX shares for my portfolio.