The Big Five Canadian banks and their stocks: Royal Bank of Canada (RY), Toronto-Dominion (TD), Bank of Nova Scotia (BNS), Bank of Montreal (BMO) and Canadian Imperial Bank of Commerce (CM), have been paying common dividends since the 1800s.
BMO, Scotiabank, TD, CIBC, and RBC haven’t missed paying dividends on common shares since 1829, 1832, 1857, 1868, and 1870, respectively.
That is, through WWI, WWII, the Great Depression, all the U.S. and international financial crises, and with and without a central bank.
As of June 30, 2010 prices on the NYSE, their annual dividends are:
RY 3.80%, TD 3.40%, BNS 3.90%, BMO 4.70%, CM 4.90%
Whereas the big five U.S. banks (JP Morgan, Bank of America, Wells Fargo, Citigroup and Goldman Sachs) are only paying:
JPM 0.50%, BAC 0.30%, WFC 0.70%, C 0%, GS 1.00%
They are also listed on the Toronto Stock Exchange, so you can buy in Canadian dollars to hedge against a declining USD, when appropriate.
In February 2009, I wrote how the Big Five Canadian banks were on pace to dwarf the five biggest U.S. banks, with the the five biggest U.S. banks having twice the market capitalization of the five biggest Canadian banks, despite the U.S. economy being nine times the size of the Canadian economy.
As of the end of June 2010, the five biggest U.S. banks are still less than three times the market capitalization of the five biggest Canadian banks.
[...] that the Big Five Canadian banks have been consistently paying dividends since the 1800s — 1832 in the case of Scotiabank — I think it highly unlikely that all your assets [...]
http://www.gcnlive.com/programs/freeTalk/archives.php July 9, hour 1, 43 minutes in. They rip on me for the call I made the night before. Analyze what they are saying. It’s like the bankers hired a bunch of guys that smoke way to much pot to do this show.
It’s very revealing how the one co-host, Mark, portrayed any criticism of the current debt-money interest system as anti-Jewish, by saying, “The idea that you can’t trust these dirty, evil international bankers — read Jew”
He is obviously very afraid of any critical examination of the current system.
http://www.gcnlive.com/programs/whatReallyHappened/archives.php while I’m on it Michael Rivero July 2, 27 minutes in.
And I was listening to the July 11 episode of Free Minds Radio, and heard you at the end of the first hour, too. You are on a GCN call-in tear.
http://www.gcnlive.com/programs/freeMindsRadio/archives.php
Despite you making it clear why interest was bad, the host said he wasn’t necessarily against it, but was against “fiat money,” and ironically linked it to fractional reserve banking, which is separate, as the next caller demonstrated by citing its origins from receipts on gold, not from “fiat money.”
July 8 1/3 into the show.
I heard you about twp-thirds through the third hour.
Great job in getting the word out about sovereign, debt-free money, as George Whitehurst-Berry puts it.
Going try FTL again today. The more reality sinks in, the better at articulating I am. I’m planning to do some You Tube vids soon. Listening to Peter Schiff today on AJ almost gave me an aneurism. If I could only converse with AJ one on one for a couple of hours. GWB is certainly entitled to the “props” when it came to cracking my skull. He may have created a monster ;)
Got on the show today. If people figure out that these guys are essentially relegated to nothing but direct barter, it will be the end of “The Free State Project”. They apparently refuse to think it through. Maybe they’ll let me print the currency in the “Free State”;) I guess they don’t they know the definition of “analogy”.
http://www.gcnlive.com/programs/freeTalk/archives.php listen to the free talk live boys defend the gold standard in this call I made to them.
Why would a bank pay a dividend? Do they manufacture something? Oh yeah, currency. Little pieces of paper if not just book entries. Hard life. How can you use the term “capitalization” in reference to anything having to do with this banking system? “Communalization” would be the appropriate term. We live on a giant blue commune. Everyone fighting over how much wealth to redistribute while the “illumined” rape us. Why was I illuminated? Because I asked to be.