Since witnessing their shares reach a fresh all-time high last Thursday, Commonwealth Bank of Australia (ASX: CBA) shareholders have endured four consecutive days of losses. The shares have dropped 2.8% in that time, which has been largely in line with the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) which is also down 2.5%.
Despite the setback in recent days, the stock is still up 11.6% for the year. It has traded between a low of $70.12 and a high of $83.92.
According to Morningstar's forecasts, Commonwealth Bank will distribute a total of 396 cents per share in dividends for FY2014, which equates to a fully franked dividend yield of 4.8% or a grossed up yield of 6.9%. As a result, the stock remains a favourite amongst investors who want superior returns to what would otherwise be recognised from 'risk-free investments' such as cash or government bonds.
Commonwealth Bank will announce their full-year results and final dividend amount in one week on 13 August 2014, when the bank is expected to deliver a cash profit in excess of $8.5 billion for the first time in its history.
