Macquarie Group Ltd (ASX: MQG) is a unique ASX share. It is often grouped together with the ASX 200 big four banks, and indeed is often called the 'fifth big four bank'.
But with its funds management business, focus on investment banking, and relatively small market share in traditional banking products such as mortgages, Macquarie is arguably not really in the same boat as the big four.
But when it comes to ASX bank shares, investors often apply much of their focus to dividends. So let's see how Macquarie stacks up against the other major ASX banks when it comes to shareholder income.
So, to reiterate, the big four banks like Commonwealth Bank of Australia (ASX: CBA) are well-known ASX dividend shares.
As it currently stands, the dividends on offer from the big four range from CBA's current dividend yield of 4.21% to that of Australia and New Zealand Banking Group Ltd (ASX: ANZ) at 6.56%.
National Australia Bank Ltd (ASX: NAB) and Westpac Banking Corp (ASX: WBC) currently have yields of 5.21% and 6.16% respectively. All of these big four bank dividends come fully franked at present.
So, how does Macquarie measure up?
How does the Macquarie dividend compare?
Well, Macquarie's latest two dividends consist of an interim dividend of $2.72 per share that was paid out last December, and a final dividend of $3.50 per share that investors will receive on 4 July.
The interim dividend came 40% franked. Next month's final dividend will also be franked at 40%.
That's an annual total of $6.22 in dividends per share. This gives Macquarie a dividend yield of 3.79% on the current share price.
So that's definitely on the low end of what the big four currently have on the table.
But remember this before you sell your Macquarie shares to buy ANZ.
The Macquarie share price is up by 83% over the past five years. CBA shares are up 10% over the same period. NAB is down 8% and ANZ is also down 20.45%. Westpac has lost almost 35%.
That's perhaps an argument why Macquarie shouldn't be considered the 'fifth big four bank' right there.
