The Bank of Queensland Limited (ASX: BOQ) share price has had a rough couple of weeks.
It’s slipped 7.7% since the end of May – a similar performance to that of the S&P/ASX 200 Index (ASX: XJO).
At the time of writing, the Bank of Queensland share price is $6.93. That leaves the approximately $4.5 billion ASX 200 bank trading with a dividend yield of more than 6%.
Let’s take a closer look at the notable dividend ratio offered by Bank of Queensland.
Bank of Queensland shares offer a 6.3% dividend yield
Have you been invested in Bank of Queensland shares for the last 12 months? You’ve likely received 44 cents in dividends for each stock held over that time.
Considering the current Bank of Queensland share price, that leaves the stock boasting a dividend yield of approximately 6.35%. Not too shabby.
On top of that, the ASX 200 bank offers a dividend reinvestment plan (DRP). That allows shareholders to receive their payout in the form of new shares in the bank, thereby increasing their holding without paying brokerage, commission, or stamp duty fees.
The 6.35% dividend yield offered by Bank of Queensland shares is one of the highest among ASX 200 bank stocks.
Though, it’s bested by Australia and New Zealand Banking Group Ltd (ASX: ANZ) shares’ current 6.38% dividend yield.