Why Ally Financial is an Outstanding Dividend Growth Stock for Investors
Efficient Consumer Banking
Previously the financial arm of the automotive giant General Motors, Ally Financial was born out of the financial crisis of 2008. Ally has transitioned into an online consumer bank to save costs, offer higher yields, and target younger consumers. Despite challenges due to interest rate hikes, the company is optimistic about its NIM recovery and future growth.
Fast-Growing Dividend, High Yield
Ally offers a higher dividend yield and a robust track record of dividend growth, outperforming JPMorgan Chase. With a positive outlook for the automotive lending sector and its consumer banking business, Ally is expected to deliver consistent earnings growth and dividend increases in the long run.
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